China’s yuan weakens to 3-week low as traders bet on imminent monetary easing – Markets

SHANGHAI: China’s yuan weakened to a three-week low against the dollar on Wednesday, on growing monetary easing expectations in the world’s second-largest economy and as the U.S. currency benefited from a downturn in risk appetite.

Bets that China would cut interest rates increased further after the nation’s central bank made the first monthly increase since November 2022 in loans to…