Chinese Yuan Falls To 2-day Low Against U.S. Dollar
November 06 2019 - 9:12PM
RTTF2
The Chinese yuan declined against the U.S. dollar in the Asian
session on Thursday, as signs of a delay in signing the U.S-China
trade deal dampened the investor sentiment.
The yuan weakened to a 2-day low of 7.02 against the greenback
from Wednesday's closing value of 6.99. The yuan is likely to face
support around the 7.1 region, if it drops again.
The People's Bank of China set today's central parity rate of
the yuan at 7.0008 per dollar, compared to Wednesday's rate of
7.0080. The Chinese central bank sets central parity rate every
morning and allows the yuan to fluctuate up to 2 percent from that
level.
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