Chinese yuan touched its weakest level in over six years.
The currency hit 6.7040 per dollar following its resumption of trade after the Golden Week holiday.
That’s the lowest print versus the greenback since September 2010.
The yuan is down 0.5% at 6.7042 per dollar as of 7:45 a.m. ET.
As for the rest of the world, here’s the scoreboard as of 7:53 a.m. ET:
- The Mexican peso is up by 1.6% at 18.9989 per dollar. Traders have viewed a stronger peso as a sign that Donald Trump is losing momentum, given his tougher statements on Mexico.
- The dollar index is up by 0.2%. “The US dollar has started the new week on a firm note,” noted Marc Chandler, the global head of currency strategy at Brown Brothers Harriman. “Notable exceptions to the dollar’s gains are the Canadian dollar and Mexican peso. Both currencies appear to have been underpinned by US political developments, the main feature of which is the implosion of the Trump campaign.”
- The British pound is tumbling. Again. The currency is down by 0.3% at 1.2395 against the dollar. Meanwhile, The Times reported on Monday that 97,572 more people are “shorting” the pound against the dollar, compared to those backing it, according to US data.
- The euro is down by 0.4% at 1.1162 against the dollar. Meanwhile, data from Germany’s Federal Statistics Office showed that seasonally adjusted German exports rose 5.4% in August, making for their biggest increase since May 2010.
- The Japanese yen is down by 0.5% at 103.38 per dollar.
- The Russian ruble is down by 0.4% at 62.4655 per dollar.
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