News Column

Chinese Yuan Climbs To Near 2-week High Against US Dollar

June 29, 2014



BEIJING (Alliance News) - The Chinese yuan firmed against the US dollar in Asian deals on Monday.

The yuan advanced to 6.2062 against the greenback, its highest since June 17. On the upside, 6.20 is seen as next resistance level for the yuan. The pair ended last week's deals at 6.2185.

The People's Bank of China set today's daily reference rate for the yuan at 6.1528 per dollar, compared to Friday's reference rate of 6.1543. The People's Bank of China sets the reference rate every morning and allows the currency to move upto 2% from that level.



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Source: Alliance News


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