Chinese Yuan Falls To More Than 1-year Low Against U.S. Dollar
26 Dicembre 2024 - 2:51AM
RTTF2
The Chinese yuan weakened against the U.S. dollar in the Asian
session on Thursday.
Global markets were closed for Christmas holiday and the thin
trading with some markets in the region closed in the
holiday-shortened week.
Traders react to China's central bank holding the interest rate
on the one-year medium-term lending facility at 2% on
Wednesday.
Against the U.S. dollar, the yuan fell to more than a 1-year low
of 7.3114 from yesterday's closing quotes of 7.2975.
If the yuan extends its downtrend, it is likely to find support
around the 7.35 region.
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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