USD/CNY eases-off 8-1/2 yr highs as PBOC strengthens Yuan fix

The Chinese currency is seen on a steady recovery path versus its American counterpart so far this Monday, after having slumped to record-low levels last week.

The PBOC set the yuan reference point against the US dollar at 6.9042, 181 basis points or 0.18% stronger than Friday’s fix of 6.9168.

The spot last seen changing hands at 6.9198 at midday, almost unchanged from Friday’s close. Meanwhile, the yuan has fallen over 6% per dollar this year, dropping around 2% since a Trump win in the US election.