The yuan weakened on Friday as the Chinese currency looks set to record a seventh weekly drop, its longest slide since 2015. Meanwhile, the U.S. dollar also slipped on Friday.<\/p>\n
The\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair gained 0.14% to 6.8030 by 12:40AM ET (04:40 GMT). The yuan declined almost 6% since early June as traders concerned that authorities would refrain from heavy intervention to stem the yuan\u2019s plunge as long as there is no sign of speculative short trades.<\/p>\n Some analysts believed Chinese authorities might prefer a weaker currency to offset the impact of a trade war with the U.S.<\/p>\n The yuan\u2019s slump on a trade-weighted basis will offset the drag on Chinese growth from the first two rounds of tariffs imposed by the U.S.,\u00a0<\/span>Goldman Sachs Group<\/span><\/span>(NYSE:GS<\/a><\/span>) said.<\/p>\n","protected":false},"excerpt":{"rendered":" The yuan weakened on Friday as the Chinese currency looks set to record a seventh weekly drop, its longest slide since 2015. Meanwhile, the U.S. dollar also slipped on Friday. The\u00a0USD\/CNY\u00a0pair gained 0.14% to 6.8030 by 12:40AM ET (04:40 GMT). The yuan declined almost 6% since early June as traders Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-878","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=878"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/878\/revisions"}],"predecessor-version":[{"id":879,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/878\/revisions\/879"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}