China escalates yuan fixing as US dollar falls on Fed rate bets
March 17, 2016 2:27 am
People’s Bank of China increased the daily fixing for Chinese yuan by the most in nearly a week following the US dollar slumped as the Federal Reserve pared interest rate projections.
The reference rate was raised by 0.32% to 6.4961 to the dollar. The offshore yuan ended down 0.12% at 6.4934, extending losses from previous session.
The US central bank, in a statement, attributed the downscaled outlook to financial market upheaval on the US economy and weaker global growth.
The material has been provided by InstaForex Company – www.instaforex.com
People’s Bank of China increased the daily fixing for Chinese yuan by the most in nearly a week following the US dollar slumped as the Federal Reserve pared interest rate projections.
The reference rate was raised by 0.32% to 6.4961 to the dollar. The offshore yuan ended down 0.12% at 6.4934, extending losses from previous session.
The US central bank, in a statement, attributed the downscaled outlook to financial market upheaval on the US economy and weaker global growth.
The material has been provided by InstaForex Company – www.instaforex.com
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