(Bloomberg) — China’s yuan is emerging as one of the most sensitive assets to the outcome of the U.S. presidential elections.The offshore yuan climbed as much as 0.9% in late trading Wednesday to 6.6202 per dollar, its strongest level since July 2018, after earlier falling as much as 1.4%. That was the biggest intraday swing since the day after Beijing devalued the currency in August 2015. The currency’s one-week implied volatility — a proxy for market risk — fell from a record high, while traders reduced their hedges against yuan weakness.The yuan is particularly sensitive to the election outcome given …read more
Source:: Yahoo Finance
