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.
13 Apr 2021 07:40 AM
Find out why is the Dollar trading near its 3-week low?
12 Apr 2021 06:35 PM
U.S. stock futures slipped today, signaling a muted opening for major indexes that stand at record highs ahead of a busy week of corporate earnings and economic data.
12 Apr 2021 04:31 PM
Indian equities fell the most in over a month as a rapid surging second wave of the coronavirus across the country acted as the key deterrent to market sentiment.
12 Apr 2021 04:21 PM
The Indian rupee dropped for the sixth consecutive session against the dollar, as a surge in coronavirus cases intensified fears of a delay in economic recovery.
12 Apr 2021 02:54 PM
Pound bounced back from 2 month lows and traded around 1.3750 amid timid US Treasury yields capping Dollar’s gains.
12 Apr 2021 02:46 PM
Check out how European markets are reacting today