USA Today: China devalues yuan for second day
China further devalued its currency Wednesday as the world's second largest economy aggressively pushed back against slowing growth and trade, roiling global financial markets and driving expectations the currency could be set for more falls and even open a new currency war.
The People's Bank of China, or PBOC, its central bank, said the daily fixing rate for the yuan fell 1.6% after it was cut by 1.9% on Tuesday.
The yuan fell as much as 2% Wednesday against the dollar before paring losses.
Bloomberg, citing people familiar with the matter, reported that PBOC intervention to support the falling currency shortly before the market close in Shanghai Wednesday helped to limit losses.
Tuesday's yuan devaluation was the largest against dollar in more than two decades.
WNU Editor: This devaluation will impact everyone .... including you and me. On the U.S. political front, this plays into one of Donald Trump's key campaign issues .... Presidential candidate Trump: China devaluation will devastate US (CNBC).
More News On China Devaluing Their Currency For A Second Time In Two Days
Markets slide as China moves to weaken yuan again - live -- The Guardian
Global Market Sell-Off Intensifies as China Currency Drops -- NYT/AP
China Roils Markets for Second Day as Yuan Tumbles With Stocks -- Bloomberg
China central bank under pressure to weaken yuan further: sources -- Reuters
China's yuan currency falls for a second day -- BBC
Surprise China devaluation marks escalation of currency war -- Financial Times
China lets yuan fall further, fuels fears of currency war -- Reuters
China steps up currency war with dramatic renminbi devaluation -- Financial Times
Stocks, yields tumble after China pushes yuan lower again -- Reuters
China currency devaluation sends global exporters reeling -- The Independent
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