Yuan Falls as PBoC Lowers Fixing
The Chinese yuan fell against the US dollar today as the nation’s central bank lowered its reference rate and on the general risk aversion sentiment among Forex traders.
The People’s Bank of China set the daily fixing by 0.05 percent to 6.2913 per dollar today, the lowest level since December 14. The Forex market turned to the risk-off mode after the Republican House canceled vote on Speaker John Boehner’s “plan B” last week. The Dollar Index rose 0.3 percent.
USD/CNY advanced from 6.2312 to 6.2349 as of 10:13 GMT today.
If you have any questions, comments or opinions regarding the Chinese Yuan, feel free to post them using the commentary form below.
Earlier News About the Chinese Yuan:
- Yuan Weaker Even as Manufacturing Sector Expands (2012-12-14)
- Yuan Advances as China's Manufacturing Grows (2012-11-22)
- Yuan Weakens After Change of China's Leader (2012-11-15)
- Chinese Yuan Reaches High Not Seen for Almost 19 Years (2012-10-30)
- Yuan Rises as Manufacturing PMI Improves (2012-10-24)