China\u2019s yuan strengthened for a second day after the People\u2019s Bank of China (PBOC) reportedly urged the banks to prevent any \u201cherd behavior\u201d and momentum-chasing moves in the forex markets.<\/p>\n
The\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair was down 0.17% to 6.8217 at 1:00AM ET (05:00 GMT). The offshore yuan, on the other, lost momentum as the\u00a0<\/span>USD\/CNH<\/a><\/span>\u00a0<\/span>pair climbed 0.06% to 6.8249.<\/p>\n The yuan was one of the worst performing currency in Asia this year as it has weakened more than 6% against the dollar in the past three months amid an intensifying trade dispute with the U.S. Signs of a slowing economy also pushed the Chinese currency down.<\/p>\n The U.S. said on Wednesday that it would begin slapping\u00a0<\/span>25% duties<\/a><\/span>\u00a0<\/span>on an additional $16 billion in Chinese goods in two weeks.<\/p>\n","protected":false},"excerpt":{"rendered":" China\u2019s yuan strengthened for a second day after the People\u2019s Bank of China (PBOC) reportedly urged the banks to prevent any \u201cherd behavior\u201d and momentum-chasing moves in the forex markets. The\u00a0USD\/CNY\u00a0pair was down 0.17% to 6.8217 at 1:00AM ET (05:00 GMT). The offshore yuan, on the other, lost momentum as Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-900","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=900"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/900\/revisions"}],"predecessor-version":[{"id":901,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/900\/revisions\/901"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}