The U.S. Treasury stopped short of naming China a currency manipulator in a key report, averting an escalation of a trade war, while signaling it will closely watch the yuan after its recent slide. The onshore yuan touched the lowest since January 2017 as traders digested the news.
Elsewhere in markets:
-Chinese stocks lagged, while those in Japan and Hong Kong posted modest declines
-There’s a risk-off tone across markets, highlighting the fragility of investor confidence just days after the worst week for global stocks since March
-Oil fell below $70 a barrel after American stockpiles swelled for the fourth straight week
For More News and Updates Stay Connected
(India’s First AI Based Calls)