Chinese Yuan Falls To 6-day Low Against U.S. Dollar
June 11 2015 - 12:54AM
RTTF2
The Chinese yuan weakened against the U.S. dollar in the Asian
session on Thursday.
Against the greenback, the yuan fell to a 6-day low of 6.2075.
At yesterday's close, the yuan was trading at 6.2060 against the
greenback.
If the yuan extends its downtrend, it is likely to find support
around the 6.23 area.
The People Bank of China set today's central parity rate for
yuan at 6.1150 per dollar, compared to Wednesday's reference rate
of 6.1173. The central bank sets the reference rate every morning
and allows the currency to move upto 2 percent from that level.
Traders await the nation's industrial production and retail
sales data, bot for May, due shortly.
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