Investors in a spin over yuan

YUAN investors – already nervous about US presidentelect Donald Trump’s focus on China’s currency policy – got a shock yesterday when Icap data wrongly showed the currency sinking to 7.5 to the dollar. The decline showed on Google and Xe.com, causing a stir. Icap’s prices had the dollar-yuan at about 7.5 even before the spot market started trading in Shanghai. The error was caused by an inaccurate third party feed, Icap said, adding it had removed that party from its data sources. The yuan has come under increased pressure after Trump’s victory, with him threatening to brand China a currency manipulator for allowing the exchange rate to weaken. – Bloomberg