China's yuan slipped against the US dollar on Friday as the US launched missile strikes against a Syrian airbase, adding to an already tense backdrop as the first meeting between President Xi Jinping and US President Donald Trump got underway. The People's Bank of China set the midpoint rate at 6.8949 per dollar prior to market open, weaker than the previous fix 6.893.
The spot market opened at 6.8988 per dollar and was changing hands at 6.9005 at midday, 25 pips away from the previous late session close and 0.08 percent away from the midpoint. After slumping 6.5 percent against the dollar in 2016, the Chinese currency has regained composure so far this year, advancing 0.7 percent and fluctuating in the 6.8295-6.9628 range. The dollar index, which measures dollar's value against major world currencies, was flat at 100.67 after the US strikes on Syria.
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