Yuan Ends Up But Lags Global Dollar Decline
June 10, 2009 by admin · Leave a Comment
The yuan nudged only slightly higher against the dollar on Wednesday, lagging falls in the U.S. dollar index <.DXY> — the benchmark for the dollar’s performance against a basket of major global currencies.
Before trade began, the Chinese central bank set the yuan’s daily mid-point <CNY=SAEC> moderately lower at 6.8336 from Tuesday’s reference rate of 6.8366 — an indication that Beijing wants to maintain its stable yuan policy for now despite the U.S. currency’s volatility on global markets, dealers said. Read more about the yuan…
