translated from Spanish: Chinese Yuan falls to its lowest level in 11 years in the face of commercial tension

The yuan fell on Monday to its lowest level in 11 years, in a market concerned about the U.S.-China trade war and its potential consequences for the world economy.
At 10H15 Shanghai time, the Chinese currency was worth 7.14 per dollar, a low since early 2008 and a 0.69 percent pullback from Friday’s close.
Likewise, more than 2 per cent in the middle session fell on Monday on Monday, spurred by the escalating trade tension between the United States and China and the strengthening yen, a refuge currency at times of uncertainty like today.
Global economic tension intensified in recent days, after China and the United States increased tariffs on their respective imports. In addition, US President Donald Trump raised fears by ordering U.S. companies to seek alternatives to production in China.
The depreciation of the yuan makes Chinese exports cheaper and partly offsets the increase in U.S. tariffs.
The Chinese currency exceeded the threshold of 7 yuan per dollar in early August, shortly after the United States announced its intention to impose new tariffs on Chinese imports beginning September 1.
In total and for more than a year, China and the United States have imposed punitive tariffs on more than $360 billion of annual exchanges for more than a year.

Original source in Spanish