Chinese Yuan Falls To 2-day Low Against U.S. Dollar
01:48, 27th November 2014
(RTTNews) - The Chinese yuan weakened against the U.S. dollar in the Asian session on Thursday.
Against the greenback, the yuan fell to a 2-day low of 6.1413 from an early high of 6.1283. At yesterday's close, the yuan was trading at 6.1390 against the greenback.
If the yuan extends its downtrend, it is likely to find support around the 6.15 area.
The People Bank of China set today's central parity rate for yuan at 6.1320 per dollar, compared to Wednesday's reference rate of 6.1354. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level.
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