Chinese Yuan Strengthens To Near 3-week High Against U.S. Dollar
2020年3月2日 - 10:51AM
RTTF2
The Chinese yuan firmed against the U.S. dollar in the Asian
session on Monday.
The yuan rose to 6.9625 against the greenback, its highest level
since February 12. The next possible resistance for the yuan is
seen around the 6.8 level.
The People's Bank of China set today's central parity rate of
the yuan at 6.9811 per dollar, compared to Friday's rate of 7.0066.
The Chinese central bank sets central parity rate every morning and
allows the yuan to fluctuate up to 2 percent from that level.
In economic releases, survey data from IHS Markit showed that
China's manufacturing sector contracted at a record pace in
February as efforts to contain the recent outbreak of the
coronavirus weighed heavily on performance of factories.
The Caixin manufacturing Purchasing Managers' Index fell sharply
to 40.3 in February from 51.1 in January. This was the lowest
reading since the survey began in April 2004.
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