Yuan Depreciation and Zhong Yue

yuan: It is the yuan weakest level against the dollar in over eight years, and the longest losing streak since December 2015, according to Xinhua China. The recent yuan depreciation is partly due to stronger expectations of an interest rate increase by the U.S. Federal Reserve, said Zhong Yue, analyst at Forextime Ltd., a global online foreign exchange transaction provider. The central parity rate of the yuan weakened 97 basis points to 6.8592 against the dollar, according to the China Foreign Exchange Trading System. Political uncertainties have eased in the United States after Donald Trump defeated Democratic candidate Hillary Clinton in the presidential election, leading to a stronger dollar and an expectation of a U.S. interest rate hike. Despite signs of stabilizing in recent months, the country is still having a hard time managing an increasingly overheated property market and stemming capital outflows. China economy expanded 6.9 percent in 2015, the slowest pace in a quarter of a century. (news.financializer.com). As reported in the news.