Back to Forex News

Chinese Yuan Strengthens To 16-month High Against U.S. Dollar

22:55, 15th September 2020

(RTTNews) - The Chinese yuan moved up against the U.S. dollar in Asian deals on Wednesday, as the People's Bank of China fixed the currency's daily reference rate at a higher level and the dollar fell before the Fed decision.

The Fed is widely expected to leave interest rates unchanged, but investors pay close attention to any tweaks to the accompanying statement.

The yuan rose to 6.7682 against the greenback, its highest level since May 2019. The next possible resistance for the yuan is seen around the 6.69 level.

The People's Bank of China set today's central parity rate of the yuan at 6.7825 per dollar, compared to Tuesday's rate of 6.8222. The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.

Copyright(c) 2021 RTTNews.com, Inc. All Rights Reserved

Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20210124 22:26:59