Interest rate moves by central banks across a group of 37 developing economies showed a net fourteen rate cuts last month - the largest number since policy makers ramped up measures to kickstart economic growth in the wake of the financial crisis.
Since the Trump administration began to talk of imposing tariffs on Chinese exports in early 2018, the currency is down roughly 10%. The drop has picked up speed in August, with the yuan down about 4%.
Calvin Klein, Coach, Givenchy, Dolce & Gabbana, Swarovski — and now, Versace. The list of foreign brands that have generated online fury in China would make for a glittering evening of luxury and fashion.
Brent crude futures for September fell 6 cents to $66.66 a barrel by 0022 GMT. U.S. crude for August was down 5 cents at $60.16 a barrel, after both contracts last week posted their biggest weekly gains in three weeks.