August 5, 2019, 7:23AM EDT
• 3 min read

As US-China trade tensions escalate, markets brace for more uncertainty

Quick Take

  • People’s Bank of China allowed the yuan to weaken by more than 2% to $0.1408, the weakest it’s been in more than 11 years
  • In an apparent response to U.S. President Donald Trump, China also asked state-owned companies to suspend imports of U.S. agricultural products
  • Following today’s CNY devaluation, Bitcoin rallied by 10%

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