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China's yuan hits 4-year high versus dollar after Fed decision
SHANGHAI: China’s yuan hit a four-year high against the dollar and its major trading partners on Thursday after the Federal Reserve kept rates unchanged, with China’s central bank continuing to guide an orderly appreciation of the currency. The Fed held interest rates steady, as expected, opting to delay any changes to borrowing costs until after next week’s US midterm elections while it awaits further data on inflation, which the central bank said “remains elevated.” Prior to market opening, the People’s Bank of China (PBOC) set the midpoint rate at 6.7147 per dollar, its strongest since Febr...
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