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China battles to stabilise yuan after Trump’s tariffs spark market upheaval

  • On Thursday, China's central bank set the yuan fixing rate at 7.1889 per dollar, its lowest since January.
  • The yuan faced pressure after U.S. President Trump announced higher-than-expected reciprocal tariffs on Wednesday.
  • These tariffs, part of a 'Liberation Day' package, triggered market volatility and safe-haven asset demand.
  • Raymond Yeung from ANZ stated the PBOC's efforts to stabilise the yuan remain consistent.
  • Analysts expect China's GDP could decline by 0.5% to 1% because of these tariffs.
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YUAN TALKS broke the news in on Wednesday, April 2, 2025.
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