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In an effort to calm volatile markets, the PBOC said late last week it sees no reason for the yuan to fall further. Commonwealth Bank currency strategist Richard Grace said the Australian dollar will come under pressure from the lower yuan, as well as from factors such as lower...

With foreign exchange reserves of around $3.65 trillion, China has plenty of scope to sell dollars and shore up its own currency.

Claiming the Centre is aware of the impact of Chinese yuan devaluation on Indian exports, the Minister said it would take steps to prevent dumping of Chinese good into India.

To qualify for its third bailout in five years, Greece must agree to sweeping changes to the way it manages its economy.

Greece’s main stock index plunged over 22 percent as it reopened Monday after a five-week closure, giving investors their first opportunity since June to react to the country’s latest economic crisis.

Don Gimbel, global portfolio manager of Geneva Advisors in Chicago – who oversees $9 billion – asks, “Why would anybody want to be invested in a controlled market?”