China's Yuan expected to weaken further amid COVID lockdown

Beijing [China], May 12 (ANI): China's Yuan is expected to weaken further over the coming weeks as signs emerge that China's central bank is preparing further interest rate cuts to prop up the faltering economy.

The yuan has sharply weakened in recent weeks as China's economy slowed due to its zero-COVID lockdowns and as interest rates start rising in the US. The currency slid 5 per cent since mid-April, touching 6.74 yua