Yuan traded flat after staying on an upward rally and hitting a 28-month high in the previous session, but is expected to continue its upward journey as the probability of Joe Biden winning the Presidential race increases also backed by China's early recovery from the coronavirus pandemic, as well as Beijing's desire to attract more foreign capital.
The onshore Yuan traded a bit softer at 6.6200 while the Offshore NDF, the best available proxy for Yuan’s future value expectations traded at 6.7755
The People's Bank of China set the midpoint rate at 6.629, the strongest level since July 11, 2018.
18 Jan 2021 05:01 PM
The Chinese economy reported growth in 2020, as it controlled the coronavirus outbreak in the country and positioned itself as the only major country to report economic growth.
18 Jan 2021 04:07 PM
Indian Rupee Versus Dollar Which Ended Stronger Today?
18 Jan 2021 03:59 PM
All Sectors In Red?
18 Jan 2021 02:49 PM
ECB And Italian Politics Pressuring The Euro?
18 Jan 2021 02:33 PM
Pound extended losses and dropped to fresh multi-day lows, around 1.3535 amid the cautious mood benefitting Dollar’s safe-haven status.
18 Jan 2021 12:52 PM
Yen rose as timid U.S. economic data and surging global coronavirus cases kept investors watchful.