Chinese Yuan Advances To 1-week High Against U.S. Dollar
The Chinese yuan firmed against the U.S. dollar in the Asian session on Wednesday.
The yuan spiked up to a 1-week high of 6.1358 against the greenback, compared to Tuesday's closing quote of 6.1375. On the upside, the yuan may find resistance around the 6.12 level.
The People's Bank of China set today's central parity rate for the yuan at 6.1695 per dollar, compared to yesterday's reference rate of 6.1702. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1% from the level.
News are provided by InstaForex.