China's yuan is in the midst of a steep decline as holders of the currency eye the risk of US sanctions - NewsBlist

MARKET NEWS — China's yuan is in the midst of a steep decline as holders of the currency eye the risk of US sanctions. The value of the yuan slumped against Russia's ruble for the fifth day in a row on Wednesday, falling to a level of 11.51 rubles. That's the cheapest the yuan has been in about a year. Central banks, meanwhile, are looking to dump the yuan while raising their holdings of the US dollar... businessinsider.com