Chinese Yuan Falls To 4-day Low Against U.S. Dollar
November 10 2019 - 9:50PM
RTTF2
The Chinese yuan slipped against the U.S. dollar in the Asian
session on Monday, as rising political turmoil in Hong Kong
dampened investor sentiment.
The yuan declined to a 4-day low of 7.0089 against the greenback
from Friday's closing value of 6.9953. The next possible downside
target for the yuan is seen around the 7.2 region.
The People's Bank of China set today's central parity rate of
the yuan at 6.9933 per dollar, compared to Friday's rate of
6.9945.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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