Chinese Yuan Falls To 6-day Low Against U.S. Dollar
June 04 2015 - 2:06AM
RTTF2
The Chinese yuan retreated from an early high against the U.S.
dollar in the Asian session on Thursday.
Pulling away from an early 3-day high of 6.1978 against the
greenback, the yuan fell to a 6-day low of 6.2011.
If the yuan extends its downtrend, it is likely to find support
around the 6.20 area.
The People Bank of China set today's central parity rate for
yuan at 6.1164 per dollar, compared to Wednesday's reference rate
of 6.1176. 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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