New U.S. regulations on money-market funds could see further reduction in value of the Chinese currency as a side effect
Rules issued by the U.S. Securities and Exchange Commission will make funds less willing to invest in debt issued by banks, pushing up the cost of interbank borrowing, which in turn will add to pressure on the yuan as Chinese companies rush to pay off more expensive dollar-denominated loans.
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Friday, October 21
Oct 21, 2016