Yuan lingers near 2-week low

SHANGHAI: China’s yuan hovered near a two-week low on Tuesday against a steady dollar, with investors awaiting an inflation report that will determine when the Federal Reserve will cut interest rates.

News of fresh US tariffs this week and China’s weak credit growth data for April also weighed on the Chinese currency, sapping investor confidence.

The yuan is down 2% this year, pressured by its relatively low yields versus other currencies and a struggling property market, which is weighing heavily on the economy.