Yuan edges up as U.S. eases restrictions on Huawei

Yuan edges up as U.S. eases restrictions on Huawei

21 May 2019 10:51 AM
 
China's yuan firmed against the dollar on Tuesday, as sentiment improved slightly after Washington temporarily eased restrictions on Huawei, while a firmer-than-expected official midpoint discouraged bets against the renminbi. The U.S. government on Monday allowed Huawei Technologies Co Ltd to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until Aug. 19. The U.S. move eased some worries that Sino-U.S. trade tensions would be further inflamed and inflict deeper losses on the Chinese currency.

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