Yuan rebounds after three days of declines, shaking off a weaker fixing
(WorldNews Business)

The onshore Chinese yuan rebounded against the US dollar on Wednesday morning after three days of declines. The recovery came despite the People’s Bank of China lowering the currency’s reference rate for a third straight day - the longest run of consecutive cuts this year. The spot yuan was up 0.04 per cent or 29 basis points trading at 6.8811 per US dollar as of 12pm. Before Wednesday, it had fallen against the US currency for three days in a row, down a combined 5 per cent. The......