Chinese Yuan Off 4-day Low Against U.S. Dollar
December 23 2019 - 8:08PM
RTTF2
The Chinese yuan erased its early losses against the U.S. dollar
in Asian deals on Monday.
The yuan rebounded to 7.0113 against the greenback, from a 4-day
low of 7.0139 set at 8:30 pm ET. The yuan is seen locating
resistance around the 6.9 mark.
The People's Bank of China set today's central parity rate of
the yuan at 7.0119 per dollar, compared to Monday's rate of 7.0117.
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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