BEIJING: The Chinese yuan weakened against the US dollar in the early European session on Thursday.
Against the greenback, the yuan fell to a 2-day low of 6.3585 from an early high of 6.3483.
If the yuan extends its downtrend, it is likely to find support around the 6.40 region.
The People Bank of China set today’s central parity rate for yuan at 6.3497 per dollar, compared to Wednesday’s reference rate of 6.3473. The central bank sets the reference rate every morning and allows the currency to move upto 2% from that level.
