China Weakens Yuan in Rate Reform
China's central bank devalued its currency Tuesday in what it said was a one-time move to make rates more market-oriented.
The yuan is allowed to fluctuate 2 percent above or below a central point set daily by the People's Bank of China (PBOC). The PBOC cut the central rate by 1.9 percent as a result of the change that it said would enhance "the market-orientation and benchmark status of central parity."
Beginning Tuesday, the PBOC said the central point would reflect the previous day's closing price "in conjunction with demand and supply condition in the foreign exchange market and exchange rate movement of the major currencies."
A drop in the yuan will make China's exports cheaper overseas. Tuesday's move follows the announcement that July exports were down more than 8 percent from the same time last year.
Clinton Says She Turned Over Emails in Court Statement
Former U.S. Secretary of State Hillary Clinton has signed an official court document declaring that she has turned over all relevant emails sent and received on her personal email account during her tenure as the nation's top diplomat.
The statement signed by Clinton was filed in federal court on Monday, and comes with the penalty of perjury if the court determines she purposely falsified any information.
Clinton, who is seeking the 2016 Democratic presidential nomination, has been under scrutiny in recent months after it was revealed she used her personal email account to send official messages. She said she has turned over 55,000 pages of emails to the State Department, and has authorized the agency to make the emails public.
The statement was filed as part of a lawsuit filed by Judicial Watch, a conservative group seeking access to information about Clinton related to her tenure at the State Department during President Barack Obama's first term.
The U.S. Justice Department is considering an investigation into a possible compromise of sensitive information in Clinton's emails, but says it would not be a criminal probe. During a campaign appearance in Iowa last week, Clinton said she never sent or received classified information through her personal account.