After Donald Trump’s election victory, China’s currency had depreciated by 0.2 percent to 6.7907 yuan for 1 USD. It is the lowest level since September 2010. Therefore, annual yuan fall is 4.4 percent, Bloomberg reported.
As explained by Nathan Chow, an economist at DBS Group Holdings, market participants are worried that Thump can take measures that will hit China’s exports and initiate interest rate hike in the US. "Trump has made his stance quite clear about China and it is definitely not a friendly outcome in terms of bilateral trade relations," Head of Markets Strategy and Research at the National Australia Bank in Hong Kong Christy Tan said.
A day earlier, amid the news on Trump’s victory, Dow Jones index future in the USA fell 800 points (4.4 percent). Then during the day, stock indices have regained their previous values.
