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Forex News: Chinese Yuan Trades At Near 3-week Low Versus

Chinese Yuan Trades At Near 3-week Low Versus U.S. Dollar

11/21/2019 - 01:58:00 (RTTNews)

(RTTNews) - The Chinese yuan slipped against the U.S. dollar in Asian deals on Thursday, as renewed doubts over a near-term U.S.-China trade pact dampened sentiment.

The yuan fell to near a 3-week low of 7.0444 per dollar, compared to Wednesday's closing value of 7.0343. The next possible support for the yuan is seen around the 7.2 level.

The People's Bank of China set today's central parity rate of the yuan at 7.0217 per dollar, compared to yesterday's rate of 7.0118. 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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