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The Chinese yuan weakened past the closely-watched 7.2 level against the greenback this week. Getty Images BEIJING — The People's Bank of China has warned against betting on the yuan, after its rapid decline against the U.S. dollar this week. "Do not bet on a one-sided appreciation or deprecation of the renminbi exchange rate ," the central bank said in a Chinese statement on its website late Wednesday, according to a CNBC translation. related investing news El-Erian says Bank of England's latest rescue move shows we are still in central bank 'la-la land' John Melloy 14 hours ago The S&P 500 falls to a fresh low for the year. Here's where stocks may go next Patti Domm a day ago Analysts are falling back in love with Nvidia, with Citi giving it almost 100% upside Weizhen Tan 2 days ago That's based on a readout of a speech by vice governor Liu Guoqiang at a video conference meeting on foreign exchange that day. The renminbi, or the yuan, cros...

Britain's Prime Minister Liz Truss and Britain's Chancellor of the Exchequer Kwasi Kwarteng. Dylan Martinez | Afp | Getty Images LONDON – The first fiscal policy announcement from new British Prime Minister Liz Truss's government has been met with one of the most pronounced market sell-offs in recent history. The British pound hit an all-time low against the dollar in the early hours of Monday morning, dropping below $1.04, while the U.K. 10-year gilt yield rose to its highest level since 2008, as disarray continued following Finance Minister Kwasi Kwarteng's "mini-budget" on Friday. Jim O'Neill, former Goldman Sachs Asset Management chairman and a former U.K. Treasury minister, said the pound's fall shouldn't be misinterpreted as dollar strength. "It is a consequence of an extremely risky budget by the new chancellor and a rather timid Bank of England that, so far, has only raised rates reluctantly despite all the clear pressures,"...