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China's yuan hit a six-month low and recorded its biggest quarterly fall against the dollar on record. Sources told Reuters the PBOC was willing to let the yuan weaken to 6.8 per dollar over the rest of the year, though the central bank called the report inaccurate.
The currency was trading near 6.6 per dollar, about 3% weaker since March.
A central bank tolerating further yuan weakness lowers the cost of Chinese purchases of dollar-priced commodities for importers, but it also signals softer Chinese demand and a firmer dollar.
reuters.com30 jun 2016Na 398 eerdere opwaarts macro-gebeurtenissen bewoog Chinese yuan (CNY per USD) zich mediaan +0,0% over 5 sessies (56% hoger; middelste helft -0,3% tot +0,5%), en +0,0% over 20.
Na 2.356 eerdere opwaarts macro-gebeurtenissen bewoog Amerikaanse dollar (breed) zich mediaan +0,2% over 5 sessies (60% hoger; middelste helft -0,3% tot +0,7%), en +0,4% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
The yuan hit a six-month low with a record quarterly fall and reports of PBOC tolerance for 6.8, which reinforced depreciation expectations at the end of the window.
