Market Commentary and Intraday News
Chinese Yuan Drops To 3-week Low Against US Dollar
204 days ago
(RTTNews) - The Chinese yuan gapped lower to 6.3035 against the US dollar on Tuesday in Asia, its lowest level since October 9. If the yuan weakens further, 6.3150 is seen as the next likely support level. The pair closed yesterday's deals at 6.2446.
The People's Bank of China has set today's central parity rate for the yuan at 6.3028 per dollar. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1 percent from the level.
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