China's yuan hits 4-month low as trade spat intensifies
The Chinese yuan slumped to its lowest level since early 2019 after President Donald Trump accused China of breaking the trade deal, escalating the conflict between the two countries.
The rally in the yen came as U.S. equities tumbled in Thursday trade. The Dow Jones Industrial Average DJIA, -1.55% fell more than 400 points, or 1.6%, while S&P 500 SPX, -1.26% was down 1.5%. The pound GBPUSD, +0.1076% was trading at $1.3017 compared with $1.3007, while the euro EURUSD, +0.3842% rose to $1.1247, compared with $1.1193.
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