Archive · Business Recorder
Yuan hovers near 4-year high as US midterms, Chinese regulator meeting in focus
SHANGHAI: China’s yuan hovered near a more-than-four-year high against the dollar on Monday, as investors turned their attention to this week’s US midterm elections for possible impact on global financial markets. Domestic market participants awaited possible official policy measures to support the market after China’s blue-chip stocks posted their worst monthly performance in more than a decade last month. Prior to the market opening, the People’s Bank of China (PBOC) set the midpoint rate at 6.7146 per dollar, 521 pips weaker than a Reuters estimate of 6.6625. The spot yuan is allowed to tra...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →