Onshore yuan posts strongest close against dollar since mid-June

USD/CNY closes the domestic session just below the 6.40 mark

Chinese officials have been trying to keep the yuan in a "sweet spot" in between 6.40 and 6.50 over the past few months so let's see if they will have the appetite to try and keep things that way over the next few days.

But this also just reaffirms the weaker dollar sentiment on the day, as the greenback is struggling across the board while at the same time bolsters aussie and kiwi sentiment - both of which are leading gains in the major currencies space.
Invest in yourself. See our forex education hub.

October 19, 2021 at 08:38PM

https://ift.tt/3vnAIjL