Chinese Yuan Advances To 2-day High Against U.S. Dollar
April 21 2020 - 11:06PM
RTTF2
The Chinese yuan firmed against the U.S. dollar in Asian deals
on Wednesday, as investors expect more stimulus measures to contain
economic slowdown from the coronavirus pandemic.
The yuan rose to a 2-day high of 7.0788 versus the dollar from
yesterday's closing quote of 7.0913. The next possible resistance
for the yuan is seen around the 6.7 level.
The People's Bank of China set today's central parity rate of
the yuan at 7.0903 per dollar, compared to yesterday's rate of
7.0752.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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