Chinese Yuan Rises To 8-day High Against U.S. Dollar
March 29 2016 - 8:32PM
RTTF2
The Chinese yuan strengthened against the U.S. dollar in the
Asian session on Wednesday.
Against the greenback, the yuan rose to an 8-day high of 6.4879
from an early low of 6.5065. At yesterday's close, the yuan was
trading at 6.5080 against the greenback.
If the yuan extends its uptrend, it is likely to find resistance
around the 6.42 area.
The People Bank of China set today's central parity rate for
yuan at 6.4841 per dollar, compared to Tuesday's reference rate of
6.5060. 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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