News Snapshot:
A chaotic depreciation of the yuan could unsettle households and businesses in China’s already struggling economy. SINGAPORE—Confronted by the relentless rise of the U.S. dollar, China’s central bank is seeking to slow, rather than halt its currency’s decline, highlighting the difficulties of rowing against the powerful currents in the global economy that are propelling the dollar higher. The strategy also reflects the awkward policy trade-off between managing the yuan’s value and supporting economic growth that is confronting officials in the world’s second-largest economy.
