The yuan flatlinedon Thursday as traders waited for policy signals from the Chinese central bank and as fears heightened over the virus' impact on the global economy.
At 9:41 am, the onshore yuan was little changed from the previous close at 7.1085 per U.S. dollar. The offshore yuan was also relatively flat at 7.1236 per dollar.
The Chinese currency was on the backfoot after the Financial Times reported the People's Bank of China was considering a cut to the deposit rate, said three traders in Shanghai, adding to pressure from corporate dollar demand.
Pulling the yuan in the other direction was a softer greenback, as investors braced for a likely jump in U.S. claims for unemployment benefits as companies lay off workers due to the epidemic.
14 Jul 2020 09:16 AM
The dollar was marginally higher in narrow ranges against most currencies on Tuesday
14 Jul 2020 08:47 AM
The Indian rupee is expected to drop against the dollar tracking losses in regional equities
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