Stocks drop, Chinese yuan tops 7.2 against the dollar

The Chinese yuan is likely to return to the “reasonable range” soon The yuan is likely to return to the “reasonable range” between six and seven against the US dollar — as soon as next year, said Han Baojiang, director of the Department of Economics at the Party School of the CPC Central Committee. That’s … Read more

From the Fed to the currency crisis in Europe, here’s what’s behind this sell-off in financial markets

Trader on the floor of the New York Stock Exchange, June 7, 2022. Source: NYSE Stocks fell sharply, bond yields rose and the dollar rose on Friday as investors responded to the Federal Reserve’s signal that its battle with inflation could lead to higher interest rates and a recession. Friday’s selloff was global, in a … Read more