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Commodities Briefing - Categorized | Currencies more

China’s currency not as dull as it looks

Posted on 17 July 2013

Nothing lasts forever. After soaring earlier this year, China’s currency has fallen back to earth. But while the currency may be taking a breather, investors shouldn’t, Citi said in a note.
Uncertainties about Beijing’s plans for the country’s stumbling economy are weighing on the yuan, which is also known as the renminbi or RMB. The yuan has cooled in recent weeks after hitting a record high in late May, when the U.S. dollar-yuan pair traded at 6.1211. Tuesday’s close put the pair at 6.1350………………………………………..Full Article: Source


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