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Keyword: yuandevaluation

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  • China Marks the Yuan Lower a Third Time

    08/12/2015 6:54:11 PM PDT · by TigerLikesRooster · 13 replies
    WSJ ^ | Aug. 12, 2015 | Ewen Chew
    China Marks the Yuan Lower a Third Time USD/CNY closed Wednesday at 6.3870 and its fixing was at 6.3306 By Ewen Chew Updated Aug. 12, 2015 9:26 p.m. ET 0122 GMT [Dow Jones] China’s central bank has adjusted the daily yuan benchmark weaker for a third day, moving the USD/CNY fixing to 6.4010 from 6.3306 on Wednesday. The move sent proxy currency pairs USD/KRW and USD/SGD higher, but not by much yet. Traders are awaiting the USD/CNY spot market opening in a few minutes to cement conviction that Asian currencies are going to fall again.