PBOC Kills Yuan Streak – 9 December, 2021
After reaching a 3-1/2 year high against the dollar, the Chinese yuan shifted downwards after the central bank set a weaker than expected midpoint. The Peoples Bank of China set the midpoint rate 204 pips or 0.32% weaker at 6.3702 per dollar. The onshore yuan hit a low of 6.39 per dollar, its softest level since November 26. The offshore yuan eased at 6.3892 per dollar, its weakest since November 29.