Subscribe To

Price Alert Latest News Economic Calendar News

Yuan misery to end the week for China

USD/CNY is now trading above 7.34 and that is the highest level for the pair in 15 years. The mounting pressure on the Chinese economy is continuing to weigh on the yuan currency and despite Beijing's best efforts to try and stem the drop, it is tough to fight a tidal wave when it hits this hard.The PBOC finally relented today and set the yuan fixing rate above 7.20 and that was enough of a trigger for traders to run up the price and breaking the high from November last year.The question now is... Read More

Demo Live Account See Partner Details

Content Topics

Yuan

Misery

Week

China

Forex

Posted: Sep 8 2023, 05:20

Author Name: forexlive

Risk Disclosure:

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
We would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. We and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of us and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. We may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.