Against the backdrop of a further fall of the yuan against the US dollar, experts fear that the trade war between China and the US could develop into a currency one, as China can use the weak national currency as a weapon in the event of increased tensions with Washington. The fall of the yuan for the 11th consecutive session is a record-breaking period of its continuous easing. On Thursday, at the auction in Shanghai, the yuan against the dollar rate fell by 0.3% to a minimum since December 20, to 6.63 yuan per 1 dollar. CNBC writes that the PRC authorities allow the yuan to become cheaper in order to increase the attractiveness of Chinese exports abroad.
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