RTTN:Chinese Yuan Slides To Fresh 2-week Low Against U.S. Dollar
The Chinese yuan traded lower against the U.S. dollar in Asian trading on Wednesday.
The yuan touched 6.1243 against the greenback for the first time since September 9. Further downtrend may help the yuan to find support at the 6.13 level. The pair ended yesterday's trading at 6.1211.
The People Bank of China set today's central parity rate for yuan at 6.1497 per dollar, compared to yesterday's reference rate of 6.1485. The central bank sets the reference rate every morning and allows the currency to move upto 1 percent from that level.
