×
App Icon
The Standard e-Paper
Smart Minds Choose Us
★★★★ - on Play Store
Download App

US dollar on the rise as China devalues yuan

The US dollar lunged higher on Tuesday as China allowed its yuan to fall to three-year lows, a shift that heightened unease about the world's second-largest economy even as it promised a much-needed boost to exports.

Asian stocks slipped and sovereign bonds rallied as investors weighed the implications of the surprise move, which seemed to end months of officially sanctioned yuan strength.

Get Full Access for Ksh299/Week.
Bold Reporting Takes Time, Courage and Investment. Stand With Us.
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in