Chinese Yuan Falls To 8-day Low Against U.S. Dollar
May 05 2021 - 11:15PM
RTTF2
The Chinese yuan depreciated against the U.S. dollar in the
Asian session on Thursday, as investors focused on a further
deterioration in trade relations between Australia and China.
The yuan dropped to 6.4832 against the greenback, its lowest
level since April 28. The yuan is likely to locate support around
the 6.6 level.
The People's Bank of China set today's central parity rate of
the yuan at 6.4895 per dollar, weaker than Friday's rate of 6.4672.
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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