Activity in China’s factory sector seemingly contracted at the fastest pace in 15 months in July, a preliminary private survey showed on Friday in a blow undercutting recent signs of stabilization in the struggling economy. The news came as Beijing announced it would allow its yuan currency to fluctuate more widely within its trading band as a way to support the trade sector. Fears of faltering demand in the world’s largest commodity buyer piled further pressure on resource prices, sending gold to a five-year low and copper to a six-year trough. It also added to the woes of emerging market nations already struggling with the risk of a rise in U.S. interest rates later this year. The flash Caixin/Markit China […]