Chinese Yuan Rises To 5-day High Against U.S. Dollar
April 18 2016 - 11:34PM
RTTF2
The Chinese yuan strengthened against the U.S. dollar in the
early European session on Tuesday.
Against the greenback, the yuan rose to a 5-day high of 6.4664
from an early low of 6.4788.
If the yuan extends its uptrend, it is likely to find resistance
around the 6.45 area.
The People Bank of China set today's central parity rate for
yuan at 6.4700 per dollar, compared to Monday's reference rate of
6.4787. 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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