Chinese Side: Treasury Department and Yuan Slide

chinese side: China's overnight intervention came after the US Treasury Department labelled Beijing a currency manipulator as it let the yuan slide to a more than decade low on Monday, according to Nine News Australia. It's a signal from the Chinese side that they want to keep the yuan steady and elevated. To improve your experience update it here News World Wall Street bounces back after global sell-off By AAP7 14am Aug 7, 2019Facebook Tweet MailUS stocks have jumped more than 1 per cent, bouncing back from a sharp sell-off the previous day as China stepped in to stabilise the yuan, easing concerns that currencies would be the next weapon in the US-China trade war. But it also indicates how quickly things can change. The gains on Tuesday came a day after US stocks' biggest percentage drop of the year and a sharp fall in the Chinese currency. That's permeating the tone in the market, and it's one of the reasons there remains that sense of trepidation, said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey. (news.financializer.com). As reported in the news.