Yuan Slips To Dollar On Rumored Tariff Increase – 31 July, 2018
Chinese 100 yuan banknotes are seen on a counter of a branch of a commercial bank in Beijing, China, March 30, 2016. REUTERS/Kim Kyung-Hoon/File Photo
After rumors circulated that President Trump would be imposing a 25 percent tariff on Chinese imports, the U.S. dollar edged up 0.39 percent against the Chinese currency to 6.8290 yuan. The dollar also managed to edge up 0.1 percent to 94.577 against a basket of currencies, while the Australian dollar slipped 0.2 percent to $0.7412 AUD=D3. Against the yen, the dollar is at 111.82 yen following this weeks pledge by BOJ to keep rates very low. The euro remained steady at $1.1684.