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New U.S. regulations on money-market funds could see further reduction in value of the Chinese currency as a side effect

ules 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.
1 year ago
Sky Canaves
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.
China in 2 minutes a day
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