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Yuan Breaks 6.4 Per Dollar in Test for China Central Bank: Chart
Yuan Breaks 6.4 Per Dollar in Test for China Central Bank: Chart
20 Jan 2018, 05:01 AM IST
(Bloomberg) -- China’s appetite for currency strength is being put to the test as the yuan rallies beyond the symbolically key level of 6.4 per dollar for the first time since December 2015. Analysts are divided on whether the authorities will intervene to slow the pace of gains. While the currency has climbed more than 3 percent against the greenback in the past three months, it’s little changed against the euro, suggesting dollar weakness is the driving factor behind the yuan’s strength.
To contact the reporter on this story: Emma Dai in Hong Kong at edai8@bloomberg.net.
To contact the editor responsible for this story: Richard Frost at rfrost4@bloomberg.net.
©2018 Bloomberg L.P.
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