Reported about 1 year ago
China set the yuan’s daily reference rate at its weakest since November, indicating policymakers are loosening control over the currency. The People’s Bank of China fixed the yuan at 7.1192 per dollar, its lowest in two months, amidst bets on higher US interest rates. Pressure on the yuan restricts easing space, with onshore yuan steady at 7.26 and offshore yuan at its weakest this year. The fixed rate signals a potential allowance for yuan weakening further.
Source: YAHOO