In an interview with the WSJ, U.S. President-elect Donald Trump said he would keep intact sanctions against Russia "at least for a period of time," however, "if you get along and Russia is really helping us, why would anybody have sanctions?"
Trump also said he wouldn't commit to the "One China" policy until he sees progress from Beijing in its currency and trade practices, and won't label China a currency manipulator on his first day in office, but will rather "talk to them first."
China's central bank lifted the exchange rate against the greenback by the most since 2005, stepping up efforts to support the currency amid concerns over capital outflows from the world's second-largest economy.
The PBOC set the official midpoint for the yuan at 6.8668 per dollar prior to the market opening, 639 pips or 0.9% firmer, than 6.9307 yuan on Thursday.
The big bull market in Bitcoin (OTCQB:BTCS, COIN) reverses sharply this morning, with the crypto-currency down nearly 18% in just the last hour and now selling at $886. Earlier today, it was changing hands at nearly $1,115.
China's foreign exchange reserves fell for a fifth straight month in November, tumbling $69.06B to $3.052T - the lowest since March 2011, as authorities struggled to shore up the sliding yuan in the face of a relentlessly rising dollar.
Adding to pressure on the currency, U.S. President-elect Donald Trump has vowed to label China a currency manipulator on his first day in office and threatened to impose huge tariffs on Chinese goods.
The greenback continues to gain strength on expectations of higher interest rates under President-elect Donald Trump, pushing the yuan to a near 8-year low and taking its losses so far this year to more than 5%.
The People's Bank of China set its daily fix at 6.8495 yuan against the dollar, compared with Monday's 6.8291 yuan, marking the weakest fix for the currency since 2008.
Central banks from India to Indonesia have stepped in to stabilize their currencies on deepening concerns that Donald Trump will pursue policies that spur capital outflows from developing economies and weaken their exports.
Meanwhile, the dollar is on course for its best week in a year, racking up another round of gains against the yuan and peso and steadying just off the previous day's highs against the euro and yen.
China's house-price index dropped to 4.3% in September from 9.2% in August amid attempts by central and local governments to dampen the red-hot sector with purchasing restrictions in a number of cities.
In the first weeks of October, new-home prices in Beijing dropped 3.7% and 2.5% in Shanghai after rising in both cities in September.
In 63 of the 70 cities tracked, new-home prices, excluding government-subsidized housing, grew last month, down from 64 in August.
Despite the early signs of cooling, analysts are skeptical about the government actions amid mounting concerns about the huge debt in China.
"The most powerful property control is credit tightening, which we haven't seen," UBS economist Wang Tao said. "The purchase restrictions currently imposed can still be bypassed."