Weak trade data could cloud yuan prospects

The yuan will likely face rising depreciation pressure throughout next year, economists said, as the currency fell the most in six years on Tuesday after the release of weak trade data.

The currency slid by more than 0.5 percent to 6.2059 per dollar during intraday trading, the largest intraday loss since 2008.

The spot rate against the dollar has declined by 0.78 percent since the central bank cut interest rates on Nov 21.