The Chinese yuan continued to rebound from multi-month lows while the U.S. dollar remained flat in morning trade in Asia Tuesday.
The U.S. Dollar Index, which tracks the greenback against a basket of six major currencies, gained a very little ground in morning trade in Asia, climbing just 0.02% to 93.82 at 12:30AM ET (04:30 GMT).
The dollar had rebounded overnight from its lowest point in more than three weeks, spurred by flight from the UK pound sterling. Political turmoil in the UK caused by the resignation of Foreign Secretary Boris Johnson helped shore up the greenback.
Meanwhile, the People’s Bank of China set the reference rate for the yuan at 6.6259 on Tuesday morning, stronger than the 6.6393 it set on Monday.
