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China’s yuan extends losses in afternoon, falls 0.3% to fresh 11-yr low

SHANGHAI, Aug 22 (Reuters) – China’s yuan extended losses on Thursday afternoon, hitting a fresh 11-year low against the dollar amid worries about the deepening Sino-U.S. trade war.

The spot yuan eased to a low of 7.0850 at one point in afternoon onshore trade, its weakest level since March 18, 2008, and down 0.31% from the previous late night close of 7.0633. It last traded at 7.0839 as of 0823 GMT.

Its offshore counterpart traded at 7.0914 per dollar as of 0823 GMT. (Reporting by Winni Zhou and John Ruwitch; Editin by Kim Coghill)

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