China's yuan hits 11-year low as trade tensions grip markets
by Martin Farrer and Graeme Wearden from on (#4NYQ1)
Investors seek safe havens such as US treasuries and gold as US-China standoff continues
The yuan has fallen to its lowest level in 11 years as the US-China trade war continued to grip markets.
The Chinese currency sunk below to 7.1500 a dollar, the lowest rate since February 2008, on Monday after Washington and Beijing confirmed further tit-for-tat tariffs on hundreds of billions of dollars worth of imports.
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