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    FOREX-Euro, yuan slide as trade war worries drive investors into dollars
    Reuters Reuters
    Thursday August 02, 2018 06:57
    Kitco News

    * U.S. escalates trade conflict with new tariff plan
    * Euro weakens to two-week low as dollar gains
    * Yuan hits more than 14-month low, Aussie pressured
    * Sterling slides ahead of expected BoE rate hike
    * Graphic: World FX rates in 2018

    By Tommy Wilkes


    LONDON, Aug 2 (Reuters) - The euro fell almost half a percent and the Chinese yuan dropped to a 14-month low on Thursday after a flare-up in the trade tensions between the United States and China sent investors scrambling to buy the U.S. currency.


    U.S. administration officials said on Wednesday that President Donald Trump was proposing a 25 percent tariff on $200 billion worth of Chinese imports, rattling global financial markets and sending equity markets tumbling. China urged the United States to return to reason.


    The euro fell 0.4 percent to a two-week low of $1.1608.




    China's offshore yuan, which has been under pressure on worries the months-long trade dispute will hurt its economy, slid another half percent to as low as 6.868 yuan, its weakest since May 2017.


    "Ultimately, where do you go? You go to the currency that is the most stable and actually has a yield," said Michael Hewson, chief analyst at CMC Markets, explaining why investors
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