The yuan hovered around the key 7 per dollar threshold on Monday, ahead of economic data this week that will shed light on the economic recovery in China from the virus pandemic, while gains in the equity market continued to support sentiment.
Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate at 6.9965 per dollar, snapping four straight days of advances, and was 22 pips, or 0.03%, weaker than the previous fix of 6.9943.
In the spot market, onshore yuan opened at 6.9998 per dollar and was changing hands at 6.9988 at midday, 12 pips firmer than the previous late session close. And it traded in a tight range of about 100 pips on Monday morning, following a 0.96% gain last week, the biggest weekly rise since January 2019.
China is due to release second-quarter economic figures on Thursday, with analysts widely expecting GDP to have rebounded from a record 6.8% contraction in the first quarter.
11 Aug 2020 02:42 PM
The Indian rupee logged its best day against the dollar in three weeks, tracking buoyant risk appetite in the region
11 Aug 2020 02:13 PM
The British pound held near five-month highs on Tuesday against a broadly steady greenback even as data showed job losses in Britain spiked
11 Aug 2020 11:48 AM
India's Nifty 50 index hit a five-month high on Tuesday as signs of a recovery in Chinese economic activity powered gains in metal stocks, with less worse-than-feared domestic earnings reports also helping sentiment amid a rise in coronavirus cases.
11 Aug 2020 10:46 AM
Gold fell on Tuesday as the dollar firmed after Beijing slapped sanctions on U.S. officials in the latest flare-up in tensions between Washington and Beijing, with investors also keeping a close watch on negotiations over a U.S. stimulus plan.
11 Aug 2020 10:34 AM
The Indian rupee was at 74.83/74.84, against 74.8925/74.9025 in the previous session
11 Aug 2020 09:46 AM
Crude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen.