“The underlying threat of protectionism from the new U.S. administration will weigh negatively on trade-focused currencies in Asia like the yuan,” said Stephen Innes, a senior trader at online broker Oanda.
One dollar now buys around 6.8 yuan, the weakest the Chinese currency has been since September 2010. It’s fallen around 4.5% against the dollar so far this year after dropping a similar amount in 2015.
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