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Investor nerves tested with yuan, oil, Fed in play

Volatility swept through world markets on Monday with China’s yuan hitting a fresh multi-year year low and oil’s continued travails adding to nervousness before an expected hike in U.S. interest rates later this week. Emerging markets struggled for direction, weighed down by the weakness in China’s currency, Asian stocks and oil, but buffeted by a surge in South African markets after Pravin Gordhan was re-appointed finance minister. The People’s Bank of China on Monday continued guiding its currency lower, setting the yuan/dollar official midpoint at its weakest since July 2011.
Source: Yahoo Finance

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