China's currency, the Yuan, has fallen further in value with the country's central bank again slashing the guiding rate for it.
The Yuan's rate against the US dollar had already devalued a record 1.9% on Tuesday.
Amid fears of a currency war the Chinese central bank insists it will not be a sustained depreciation.
China hopes the lower Yuan will boost exports after a series of weak economic data.
And economist Jeremy Cook from World First says it's significant but not yet shaping up as a currency war.
IN: "This is…
OUT: …havens."
DUR: 32 sec
http://www.fsnradionews.com/feeds/0812yuan-cook1.mp3
The Yuan's rate against the US dollar had already devalued a record 1.9% on Tuesday.
Amid fears of a currency war the Chinese central bank insists it will not be a sustained depreciation.
China hopes the lower Yuan will boost exports after a series of weak economic data.
And economist Jeremy Cook from World First says it's significant but not yet shaping up as a currency war.
IN: "This is…
OUT: …havens."
DUR: 32 sec
http://www.fsnradionews.com/feeds/0812yuan-cook1.mp3