Source: China – South China Morning PostChina’s central bank set the yuan’s daily fixing against the US dollar at its strongest level in more than two months, as the greenback tumbled to a multi-year low amid expectations for more interest rate cuts from the Federal Reserve later this year.
On Friday, the People’s Bank of China set the yuan’s midpoint rate – also known as the daily fixing rate – at 7.1772 per US dollar, its strongest showing since late March.
The move came as the US dollar index plummeted to 97.61 on Thursday – a…Read More