Yuan Breaks Out Of One Month Low – 26 April, 2018

Chinas yuan began to slowly break out of it’s one month low against the dollar despite the dollar hitting a three and a half month high against a basket of major currencies. The yuan opened at 6.3245 per dollar and fell to a low of 6.3275 but  recouped losses by midday and was trading at 6.3238. Some experts believe that if U.S. yields and the dollar continue to firm, the yuan will come under renewed downward pressure.