China's Yuan Higher Amid the PBOC Supporting the Nation's Currency

Monday, 27/08/2018 | 08:59 GMT

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China's yuan appreciated today Monday amid the PBOC supporting the nation's currency by re-launching a further measurement to its mechanism.

The USDCNY approached the 6.8099 declining 0.1% upon China's central bank raising the midpoint on yuan much higher than the expectations for 6.8508 per dollar. Today's midpoint level is at 6.8710.

The Chinese currency declined more than 6% against the U.S. dollar since the middle of June 2018. The U.S. Dollar Index traded to 95.07 falling 0.01%. The USDJPY pair aimed 0.2% lower today.

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Source: https://www.exclusivecapital.com/chinas-yuan-higher-after-pbocs-support/

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