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Sources said the move to devalue the yuan reflects a growing clamour within Chinese government circles for a devaluation of perhaps up to 10% to help its struggling exporters.

Echoing similar sentiments to those expressed in a statement released Wednesday evening, the bank noted that a strong economic environment, sustained trade surplus, sound fiscal position and deep foreign exchange reserves will provide “strong support” to the exchange...

Two huge explosions at an industrial area in the northeastern Chinese port of Tianjin have killed at least 44 people and injured close to 400.

“China does not have the need to start a currency war to gain advantage”, he said.

Shares in exporters such as Caterpillar and General Electric fell in the market rout this week, though many economists say the yuan’s drop so far isn’t significant enough to do much damage. It dropped another 1.6 percent on Wednesday.

It will also extend foreign-exchange trading hours in a potential move intended to forge the convergence of the yuan’s rate in China and the rate of the currency traded outside the mainland.

Powerful explosions rocked the Chinese port city of Tianjin on Wednesday, killing at least 17 people, officials and state media said.

After Tuesday, again on Wednesday for the continued second day the stocks in China dropped.

On past precedent, a devaluation of the yuan is usually accompanied by a devaluation of the won, but industries that compete directly with Chinese exports in overseas markets or generate revenues from Chinese tourists are expected to suffer.

The Aussie usd designed a new 6-year low early today of 0.7216 resistant to the American dollar later on Chinese unit of currency setting up saw origins allow yesterday’s one.85percent devaluation to actually be followed along with another one-.6 percent maneuver now.

“A falling yuan and a rising bilateral U.S. trade deficit with China will sharpen congressional criticism of China’s currency policies”, he said. Germany’s DAX dropped 2.9 percent, France’s CAC 40 dropped 3.1 percent, while Britain’s FTSE 100...

The move to allow more flexible trading “could help maintain the flexibilty of the country’s monetary policy as cross-border financial flows increase“, S&P said.

The death toll from Wednesday’s massive explosion in the Chinese city of Tianjin continues to rise, with at least 44 people dead and 520 others hospitalized, of which 66 are in critical condition, China’s Xinhua news agency reported Thursday afternoon.

The most active gold contract for December delivery gained $10 (0.91 percent) to settle at $1,104.10 per ounce, Xinhua reported.

A series of huge explosions shook the northern Chinese city of Tianjin late Wednesday, killing 17 people and injuring more than 300, according to officials and state media.