LCU:Chinese Yuan Slides To New 2-month Low Against US Dollar
BEIJING (Alliance News) - The Chinese yuan lost ground against the US dollar in Asia on Wednesday.
The yuan declined to 6.0756 against the greenback for the first time since December 13, 2013. The yuan may seek support at the 6.08 area. The pair ended Tuesday's trading at 6.0675.
The People's Bank of China set today's central parity rate for yuan at 6.1103 per dollar, compared to Tuesday's reference rate of 6.1073. The central bank sets the reference rate every morning and allows the currency to move upto 1% from that level.
