Chinese Yuan Falls To 4-day Low Against U.S. Dollar
May 25 2015 - 12:25AM
RTTF2
The Chinese yuan weakened against the U.S. dollar in the Asian
session on Monday.
Against the greenback, the yuan fell to a 4-day low of 6.1990.
At Friday's close, the yuan was trading at 6.1974 against the
greenback.
If the yuan extends its downtrend, it is likely to find support
around the 6.24 area.
The People Bank of China set today's central parity rate for
yuan at 6.1165 per dollar, compared to Friday's reference rate of
6.1131. 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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