May 1, 2020 / 8:27 AM / 24 days ago

Offshore yuan tumbles after Trump tariff threat against China

May 1 (Reuters) - The Chinese yuan slumped 0.7% against the dollar in offshore trade, its biggest drop in six weeks, after U.S. President Donald Trump threatened new tariffs on Beijing as a retaliatory measure for the coronavirus outbreak.

Trump said on Thursday he was confident COVID-19 may have originated in a Chinese virology laboratory.

The comments reflected his frustration over the pandemic, which has cost tens of thousands of lives in the United States alone, sparked an economic contraction and is threatening his chances of re-election in November .

The offshore yuan posted its biggest one-day fall since mid-March and fell to a one-month low of 7.13 per dollar . Mainland Chinese markets were closed for a holiday on Friday.

Reporting by Sujata Rao; editing by Marc Jones

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below