The Chinese yuan plunged to a fresh six-year low against the dollar on Thursday, tracking a broad rally in the greenback after Donald Trump won the U.S. presidential election.
The yuan fell to 6.7918 against the dollar, down from 6.7769 on Wednesday. Thursday’s slide put the Chinese currency at its lowest level since August 2010.
The dollar, which initially wobbled on Wednesday in Asian hours on investor worries about a Trump win, rose sharply after U.S. Treasury yields climbed Wednesday night on expectations the new administration in Washington would provide more fiscal stimulus to boost growth.
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