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Whatever you choose to call it, China’s currency this week roiled global markets after the central bank’s sudden move to devalue it. The decision sparked fears of a new currency war and even drew the ire of Republican presidential candidate Donald Trump.

HONG KONG (AP) – World stock markets rebounded Thursday as the fall in the Chinese yuan slowed and the country’s central bank tried to dampen speculation of further devaluation.

Gold futures on the COMEX division of the New York Mercantile Exchange rose on a weaker US dollar.

Hence the 4 percent fall in China’s yuan in the last two days will not change the course of business dynamics between the two nations majorly.

The move was carried out to make the yuan more market-oriented. Malaysia’s ringgit and the Indonesia rupiah plunged to their lowest levels in 17 years.

Vietnam allowed the nation’s currency, the dong, to trade in a wider range, adding flexibility which could insulate the country’s exporters from China’s moves, while the Malaysian ringgit and the Indonesian rupiah both fell to their lowest levels since the 1998...

After China’s surprise devaluation of the yuan, U.S. financial markets have slightly pushed rate hike expectations to December. Neither of these has reached a satisfactory level by Fed measures.

Exchange rates are among many issues likely to be on the agenda for September’s planned visit to Washington by China’s President Xi Jinping.

In an interview to Now, Nick Parsons of National Australia bank said, ” Yuan devaluation will worsen background for Asian currencies”.

Another drop in China’s currency sent global markets mostly lower on Wednesday as the move raised worries about the world’s second-largest economy, but US stocks finished mostly higher Wednesday as an afternoon rally led by Apple and energy equities overcame early...

The Nasdaq Composite Index closed up 7.60 points, or 0.2%, at 5,044.39, after being down as many as 91 points.

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...

“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.