人民幣兌美元匯率跌至10年低位

China's yuan sank to a 10-year low against the dollar on Monday, coming close to breaking the politically sensitive level of seven to the U.S. currency.

人民幣兌美元匯率週一跌至10年來的最低點，接近1比7的政治敏感數字。

The yuan declined to 6.9644 per dollar at midday, passing its most recent low in 2016 before recovering slightly. It was the lowest level since May 2008.

人民幣在午盤時跌至對美元6.9644的匯率，跌破最近一次在2016年低點，之後略有回升。不過這是自2008年5月以來的最低水平。

The currency's weakness is one of a series of elements fueling Washington's trade complaints against Beijing. The U.S. Treasury Department declined this month to label China a currency manipulator but said it was closely watching Beijing.

人民幣疲軟是導致華盛頓不滿北京貿易政策一系列因素之一。美國財政部本月沒有將中國列爲貨幣操縱國，但表示正在密切關注北京。

Chinese authorities have promised to avoid "competitive devaluation" to boost exports amid a tariff war with U.S. President Donald Trump. But they are trying to make the state-controlled exchange rate more responsive to market forces, which are pushing the yuan lower.

中國當局在與美國特朗普政府進行關稅戰之際，一度承諾避免爲促進出口而對人民幣"競爭性貶值"。不過中方正努力使國家控制的匯率更敏感地對市場做出反應，而市場力量正在推動人民幣走低。

The level of seven yuan to the dollar has no economic significance, but could revive U.S. attention to the exchange rate.

儘管美元對人民幣1比7的匯率沒有什麼經濟意義，但可能會讓美國再度關注匯率問題。

Chinese authorities are likely to "stand their ground" and prevent a "capitulation beyond the 7 level," Mizuho Bank said in a report Monday.

瑞穗銀行週一在一份報告中表示，中國當局可能會"堅守陣地"，防止"1比7的匯率失守"。

The yuan, also known as the renminbi, or "people's money," has declined by almost 10 percent against the dollar since April as China's economy cooled and U.S. and Chinese interest rates went in opposite directions. That helps exporters cope with tariffs of up to 25 percent imposed by Trump on billions of dollars of Chinese goods. But it raises the risk of inflaming American complaints about Beijing's trade tactics.

自今年4月份以來，由於中國經濟降溫，美國和中國的利率走勢相反，人民幣兌美元匯率已下跌近10％。這有助於出口商應對特朗普政府對數十億美元中國商品徵收25％的關稅。但這增加了美國抱怨北京貿易策略的風險。

A Treasury report on Oct. 17 said China failed to meet criteria to be labeled a currency manipulator, a status that can trigger sanctions. But it said Beijing was, along with Japan and Germany, on a list of governments whose currency polices would be closely monitored.

美國財政部10月17日的一份報告稱，中國未能達到被列爲貨幣操縱國的標準，但表示北京與日本和德國一道，都被列入政府密切關注其貨幣政策的名單。一旦被列爲貨幣操縱國後可能會引來制裁。

A weaker yuan also might encourage an outflow of capital from the world's second-largest economy. That would raise borrowing costs at a time when its leaders are trying to shore up cooling growth.

人民幣貶值也可能推動這個世界第二大經濟體的資本外流。這將導致在中國領導人試圖支撐已見冷卻的經濟之際，借貸成本增加。

The People's Bank of China has been trying to make its exchange rate mechanism more efficient by increasing the role of market forces.

中國人民銀行一直在努力通過加大市場作用來提高其匯率機制的效率。

The exchange rate is set each morning and allowed to fluctuate by 2 percent against the dollar during the day. The central bank can buy or sell currency - or order Chinese commercial banks to do so - to dampen price movements.

人民幣匯率是每天早上設定的，其兌美元匯率的當天波動不能超過2％。央行可以購買或出售人民幣，或下令中國的商業銀行這樣做，來抑制價格變動。

Some forecasters say Beijing's stance might change if Trump and his Chinese counterpart, Xi Jinping, make no progress at a possible meeting during a November gathering of the Group of 20 major economies.

一些預測人士表示，如果特朗普總統和中國國家主席習近平在11月份的20國集團峯會期間沒有取得任何進展，北京的立場可能會改變。