Most Asian currencies stem further losses as yuan pulls off lows

The Chinese yuan slid to its weakest since November 2018 in early trade, before paring some losses. Onshore spot was last seen at 6.9381 per dollar, still down almost 0.6% on the day - its biggest daily fall in more than two months. The offshore yuan was trading at 6.9655 at 0746 GMT.

BENGALURU: Most Asian currencies regained some of their footing on Tuesday, as signs Beijing is keen to stem the yuan's slide soothed markets unnerved by the Trump administration's labelling of China as a currency manipulator.

People's Bank of China's firmer-than-expected yuan fixing helped pull the currency from the lows it touched on Monday, but it still held beyond the 7-per-dollar level that it broke for the first time since the global financial crisis. The yuan was roughly flat on the day at 7.047 per dollar.