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Beijing action could impact Fed rate move.
August 11, 2015
By: TOM BRANNA
Editor
China’s surprise decisition to devalue its tightly controlled currency early Tuesday, pushed the US dollar higher, but it also fueled speculation that the Federal Reserve will delay its first interest-rate hike, which some observers had expected to come next month. The yuan suffered its largest one-day loss in two decades following the surprise move, with the dollar jumping to buy 6.3294 yuan—up from around 6.2058 earlier on Tuesday. The yuan had been trading in a tight range in recent mont...
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