Dollar firm, yuan slides after China unexpectedly cuts rates

TOKYO : The safe-haven dollar stayed firm against major peers while the yuan sank to a nine-month trough after China's central bank unexpectedly cut key policy rates for a second time in three months on Tuesday to shore up the country's sputtering economy. The yuan weakened as far as 7.3115 per dollar for the first time since Nov. 4 in offshore trading, before bouncing back as major state-owned banks were…

https://worldnewslivetv.com/business/dollar-firm-yuan-slides-after-china-unexpectedly-cuts-rates/