China's yuan eased to a two-week low on Wednesday after the central bank set its official midpoint weaker than a key threshold for the first time in nearly two months.
Investors also remained cautious as the death toll from the coronavirus epidemic passed 2,000, though the number of new cases fell for a second straight day.
Prior to the market opening on Wednesday, the People's Bank of China (PBOC) set the midpoint rate at 7.0012 per dollar, 186 pips or 0.27% weaker than the previous fix of 6.9826.
It was the first time the PBOC has set the official guidance rate below the closely watched 7 per dollar level this year, and the level was the weakest since Dec. 25.
The much weaker fixing quickly dragged the offshore yuan lower before onshore trading opened. Onshore, spot yuan opened at 7.0051 per dollar and eased to a low of 7.0028, its weakest level since Feb. 4.
13 Jul 2020 04:57 PM
Indian shares ended higher on Monday, led by a rally in Reliance Industries, ahead of June's inflation data which investors bet would lead to further interest rate cuts by the central bank.
13 Jul 2020 02:43 PM
The Indian rupee was little changed against the greenback, amid focus on decline in the dollar index
13 Jul 2020 11:45 AM
Indian shares climbed on Monday, as investors bet June inflation data later in the day would lead to further interest rate cuts by the country's central bank, while Reliance Industries gained for a third session.
13 Jul 2020 11:15 AM
The yuan hovered around the key 7 per dollar threshold on Monday, ahead of economic data this week
13 Jul 2020 10:45 AM
Gold prices rose on Monday, holding ground above the key $1,800/oz level, as a weaker dollar and worries over surging COVID-19 cases around the globe kept the safe-haven metal underpinned.
13 Jul 2020 10:31 AM
The Indian rupee was at 75.1275/75.1375 to the dollar against 75.2000/75.2100 in the previous session