China's yuan gives up all year-to-date gains, pressured by Sino-U.S. tensions

China's yuan extended losses on Friday afternoon to finish the domestic session at the weakest levels in nearly two months, pressured by fresh signs of escalations in Sino-U.S. tensions.

The onshore yuan ended domestic session at 6.9442 per dollar, 354 pips or 0.51% weaker than the previous late night close of 6.9088, the weakest such close since Dec. 30, 2022.

The onshore yuan gave up all the gains it has booked so far this year, and fell 0.6% to the dollar as of 0830 GMT. (Reporting by Winni Zhou and Brenda Goh, Editing by Raissa Kasolowsky)