China’s yuan could reach an all-time low this year as Beijing’s stimulus efforts fall flat

Chinese President Xi Jinping Reuters/Pool The offshore yuan could fall to 7.6 against the dollar by year’s end, a Bloomberg survey shows. That’s as investors are discouraged by China’s economic slowdown and Beijing’s response. The yuan has already depreciated about 5% against the dollar since January. China’s offshore yuan is headed for an all-time low, as Beijing’s efforts to revive the economy have failed to pay off or inspire confidence. That’s according to respondents of a recent Bloomberg survey, who expect the yuan’s internationally-traded version to hit 7.6 against the dollar by the end of the year. The currency has…