china’s offshore yuan is headed for its worst week in more than six years as it struggles against mounting signs of an economic slowdown as well as rising rates in the us   according to tullett prebon data the offshore yuan which circulates outside mainland china was down around 23 this week as of friday morning on pace for its worst week since the week that ended on aug 14 2015 when it fell 35 the offshore yuan usdcnh traded around 653 per us dollar on the day  the yuan is taking a hit from both rising treasury yields as us policy makers prepare to aggressively boost interest rates next month as well as signs of an economic slowdown in the world’s secondlargest economy those signs include falling consumer spending as a result of china’s zerotolerance approach to covid19 the international monetary fund earlier this week cut its forecast for china growth this year to 44 down from 48 previously and warned that the potential for a deeper slowdown could weigh on the global outlook  “china is in a bind” said fhn financial’s chief economist chris low in a note “a 20 drop in oil imports despite access to firesale priced crude from russia suggests a deep economic slowdown” subway usage plus home and car sales are down low wrote on friday and this week people’s bank of china governor yi gang appeared to downplay the possibility of any significant support from the central bank by saying monetary policy is in a “comfortable range”