July 3, 2018 / 1:59 AM / 7 months ago

China's yuan slips past 6.7/dlr for the first time in nearly a year

SHANGHAI, July 3 (Reuters) - China’s yuan currency , on a downward spiral since mid-June, slipped past 6.7 per dollar in early trading on Tuesday for the first time since Aug. 9, 2017.

The central bank put the midpoint roughly in line with market expectations at 6.6497 yuan per dollar, its weakest level in about 10 months, setting the stage for the day’s drop.

Chinese currency and stock markets have been jittery ahead of a July 6 deadline for U.S. tariffs on $34 billion worth of Chinese goods that Beijing has said it would match with tariffs on U.S. products.

The yuan was trading at 6.7100 per dollar at 0149 GMT. It’s lost about 4.6 percent of its value against the dollar since June 14. (Reporting by Winni Zhou and John Ruwitch; Editing by Sam Holmes)

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