WRAPUP 1-Offshore yuan hits record low after U.S. brands China a currency manipulator [Reuters]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Reuters
WRAPUP 1-Offshore yuan hits record low after U.S. brands China a currency manipulator - Reuters 4 Min Read * Offshore yuan hits new low after falling 0.5% against dollar * China says overnight that U.S. agricultural purchases suspended * State media accuses U.S. of destroying international order SHANGHAI, Aug 6 (Reuters) - China’s offshore yuan hit a record low on Tuesday, fuelling fresh selling in global financial markets, after the United States branded Beijing a “currency manipulator” in a rapidly escalating trade war between the world’s two biggest economies. In a strongly-worded editorial, the official Communist Party newspaper the People’s Daily said the United States’ was “deliberately destroying international order” and holding its own citizens to ransom. The U.S. Treasury Department said Monday that it had determined for the first time since 1994 that China was manipulating its currency, knocking stock markets and the U.S. dollar sharply lower and sending gold prices to a six
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