China doubles down on defending its currency

by | January 8, 2017 2:14 am

HONG KONG—China continued to squeeze the global market for the yuan Friday, sending the cost of borrowing the currency in overseas markets soaring to a near-record high. Investors and analysts say the nosebleed rates are likely to continue as China’s central bank battles to keep the country’s currency from weakening too far and fast. The…

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