- The U.S. remains concerned about the recent decline in China's yuan, Reuters reports, citing a senior Treasury official.
- The official said it's not clear if Treasury Secretary Steven Mnuchin will meet with any Chinese officials at the International Monetary Fund and World Bank meetings this week.
- The Treasury continues to "closely monitor developments" in the Chinese currency, the official said.
- Concerns would be detailed in the Treasury Department's semi-annual currency report due to be released next week.
- The Chinese yuan -0.9% against the U.S. dollar. YTD, the yuan has weakened 6.2% against the U.S. dollar.
- A weaker yuan makes goods made in China cheaper vs. those made in the U.S., and may offset the U.S. tariffs on Chinese goods.
- ETFs: FXI, YINN, YANG, MCHI, GXC, CYB, FXP, PGJ, CN, TDF, CNY, CHN, CXSE, XPP, FCA, YAO, YXI, FXCH, KGRN, FLCH, WCHN
- Chinese ADRs: Related Stocks: CEO, PTR, SNP, CGA, GURE, OTCPK:NOBGF, KGJI, ACH, SHI, DELT, OSN
- Now read: China: Is MCHI A Proxy For Commodities Prices?
Original article