News Snapshot:
China’s offshore yuan dropped to its weakest in 17 months on Tuesday, and neared the symbolic level of 6.7 to the US dollar, as foreign investors remained bearish towards Beijing with coronavirus lockdowns weighing on the outlook for economic growth. The offshore yuan weakened to as much as 6.6979 per US dollar in early afternoon trade on Tuesday, its lowest since November 2020. The onshore market is closed from Monday to Wednesday this week due to the five-day Labour Day holiday in China. If [offshore yuan] breaches the 6.7 level we could see some policy reaction or some comments from...
