Chinese Yuan Falls To 3-day Low Against U.S. Dollar
January 08 2015 - 12:55AM
RTTF2
The Chinese yuan weakened against the U.S. dollar in the Asian
session on Thursday.
Against the greenback, the yuan fell to a 3-day low of 6.2218
from an early high of 6.2105. At yesterday's close, the yuan was
trading at 6.2130 against the greenback.
If the yuan extends its downtrend, it is likely to find support
around against the 6.23 area.
The People Bank of China set today's central parity rate for
yuan at 6.1302 per dollar, compared to Wednesday's reference rate
of 6.1269. 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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