China’s Yuan Breaches Critical Level of 7 to the Dollar, Prompting Trump Critique

China’s currency broke through the psychologically important level of 7 yuan to the dollar, prompting President Trump to accuse Beijing of manipulating its currency in a way that would backfire.

Monday’s depreciation sent the currency to a record low for offshore trading, and came days after Mr. Trump threatened to broaden U.S. tariffs to cover essentially all Chinese imports. He and many other U.S. officials have long accused China of weakening the yuan to make its exports cheaper and gain an unfair advantage in trade. Beijing...