Yuan weakens, on track for biggest monthly decline since 1994

The yuan resumed its decline
against the dollar on Friday and was on track for its worst
month since China’s currency reform in 1994, due to trade
tensions with the United States and a slowdown in the domestic
economy.
In August, the yuan has lost more than 3.7% versus the
dollar.
On Thursday, spot yuan snapped a 10-day losing
streak, the longest since December 2015, as Beijing and
Washington gave signs they discus