Chinese yuan weakens for fifth consecutive day, amid expectation for more monetary easing, Covid-19 concerns

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The Chinese yuan weakens against the US dollar for the fifth consecutive day on Monday, with the entire gains in February erased, driven by growing expectations that the People's Bank of China (PBOC) will introduce more monetary easing measures and conerns over the fast spread of locally transmitted coronavirus cases.

The onshore yuan broke through the 6.35 per dollar mark to hit 6.3623 at one point, the weakest level since February 15 . . .

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