Indications Monday: Trade War and Countries China

indications monday: The currency has now slumped more than 9% against the greenback since January, dragged down by interest rate hikes in the United States, fears over the health of China's economy and the trade war between the two countries, according to CNN. China says it will do battle with speculators betting against its currency The new 10-year low for the yuan came after indications Monday that the clash between Washington and Beijing is set to intensify. The yuan sank past 6.97 to the dollar in Tuesday morning trading in Asia, its weakest level since May 2008. Bloomberg News alarmed investors with a report that the White House is considering more tariffs on Chinese goods by December if a meeting between US President Donald Trump and Chinese leader Xi Jinping doesn't go well. The exchange rate is creeping closer to 7 yuan to the dollar, which is seen as a key psychological threshold for traders and could be the trigger for renewed attacks by Trump. And the US government said it was restricting exports of American technology to a state-backed Chinese chipmaker. (news.financializer.com). As reported in the news.