USD/CNY: Yuan drops for 2nd day as PBOC weakens fix

As Bloomberg reports, the yuan fell for the second straight session after China’s central bank weakened its daily reference rate amid a rebound in the dollar.

The People’s Bank of China (PBOC) lowered the fixing by 0.26% to 6.6451 against the greenback, halting a five-day increase of 0.9%.

A Bloomberg replica of the trade-weighted CFETS RMB Index, which tracks the yuan against 13 currencies, declined 0.1%.

Aug 2, 2016

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