Chinese Yuan Slides To 4-day Low Against U.S. Dollar
14 Februar 2020 - 2:54AM
RTTF2
The Chinese yuan dropped against the U.S. dollar in the Asian
session on Friday, as investors remained cautious amid concerns
about the coronavirus outbreak.
The yuan dropped to a 4-day low of 6.9864 against the greenback
from yesterday's closing value of 6.9750. The yuan is likely to
locate support around the 7.1 level.
The People's Bank of China set today's central parity rate of
the yuan at 6.9843 per dollar, compared to Thursday's rate of
6.9785. 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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