Tuesday, November 15, 2016

The Green back continues to strength

The Green back continues to gain strength on expectations of higher interest rates under Trump, pushing the yuan to a near 8-year low and taking its losses so far this year to more than 5%. The People's Bank of China set its daily fix at 6.8495 yuan against the dollar, compared with Monday's 6.8291 yuan, marking the weakest fix for the currency since 2008.