China's yuan slipped on Thursday after exports declined for a second consecutive month in March, but some economists partly blamed intense yuan speculation last year for artificially inflating trade figures then and distorting comparisons now. Spot yuan shed 0.1 percent by midday to change hands at 6.2059 per dollar after the central bank guided the midpoint slightly weaker to 6.1510. The market has remained consistently weaker than the midpoint since mid-March.
The dollar hit a three-week low against a basket of currencies on Thursday, after minutes from the Federal Reserve's meeting in March were seen as dovish by markets and likely to push back the Fed's end of asset purchases and rate increases.
Comments
Comments are closed.