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News

Yuan looks to first weekly gain in seven as state banks set to step in

SHANGHAI, Sept 30 (Reuters) - China's yuan on Friday recouped all of its losses from earlier in the week after Reuters reported the central bank has told major state-owned banks to be ready to support the currency in offshore trading. Sources told Reuters on Thursday that state banks were told to review their holdings of the offshore yuan and ensure U.S.
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China's yuan snaps eight-day losing streak after strong PBOC warning

(Updates to close) SHANGHAI, Sept 29 (Reuters) - China's yuan bounced on Thursday from a 14-year low against the dollar hit in the previous session, snapping eight straight days of losses, after the central bank warned against speculative trading and heavy one-way bets on the currency. The People's Bank of China (PBOC) said on Wednesday that stabilising the foreign exchange market is the top priority, and reiterated that the yuan has a solid basis to be basically stable.
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China's yuan bounces from 14-year low after PBOC verbal warning

SHANGHAI, Sept 29 (Reuters) - China's yuan bounced on Thursday from a 14-year low against the dollar hit in the previous session, snapping eight straight days of losses, after the central bank warned against speculative trading and heavy one-way bets on the currency. The People's Bank of China (PBOC) said on Wednesday that stabilising the foreign exchange market is the top priority, and reiterated that the yuan has a solid basis to be basically stable.
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China's yuan ends at weakest since global financial crisis, hits record low offshore

SHANGHAI, Sept 28 (Reuters) - China's onshore yuan extended losses on Wednesday to end the domestic session at its lowest level against the dollar since the global financial crisis of 2008, while the offshore yuan hit a record low, pressured by expectations of more U.S. rate hikes. Currency traders said the yuan was reacting to broad greenback strength in global markets as the dollar =USD hit a fresh two-decade peak against a basket of currencies, buoyed by safe-haven demand and a hawkish Federa
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China's yuan ends at weakest since global financial crisis, hits record low offshore

(Corrects the date in paragraph 10) SHANGHAI, Sept 28 (Reuters) - China's onshore yuan extended losses on Wednesday to end the domestic session at its lowest level against the dollar since the global financial crisis of 2008, while the offshore yuan hit a record low, pressured by expectations of more U.S. rate hikes. Currency traders said the yuan was reacting to broad greenback strength in global markets as the dollar =USD hit a fresh two-decade peak against a basket of currencies, buoyed by sa
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