The onshore yuan weakened past a level that China had been defending since late last year, opening up room for the managed currency to slump further amid a sluggish economy.

China’s yuan hit a 14-month nadir on the first trading day of 2025, but it quickly bounced from lows of 7.31 per dollar, which traders say could

The onshore yuan breached the psychological milestone of 7.3 per dollar for the first time since late 2023, weakening past a level that China had been defending throughout December. Bloomberg MLIV's Nour Al Ali has more.

The offshore yuan tumbled sharply on Tuesday, briefly falling to the lowest level against the US dollar in more than two years, before paring the decline.