Yuan Falls as PBoC Lowers Fixing

Various yuan banknotesThe 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.

Yuan Falls as PBoC Lowers Fixing Yuan Falls as PBoC Lowers Fixing Reviewed by Sopheap Chhin on 4:12:00 AM Rating: 5

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