Chinese Yuan Rises To Near 2-month High Against U.S. Dollar
November 07 2023 - 5:35PM
RTTF2
The Chinese yuan strengthened against the U.S. dollar in the
Asian session on Wednesday.
Against the greenback, the yuan rose to nearly a 2-month high of
7.2658 from a recent low of 7.2783. At yesterday's close, the yuan
was trading at 7.2733 against the greenback.
If the yuan extends its uptrend, it is likely to find resistance
around the 7.24 area.
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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