The yuan flatlinedon Thursday as traders waited for policy signals from the Chinese central bank and as fears heightened over the virus' impact on the global economy.
At 9:41 am, the onshore yuan was little changed from the previous close at 7.1085 per U.S. dollar. The offshore yuan was also relatively flat at 7.1236 per dollar.
The Chinese currency was on the backfoot after the Financial Times reported the People's Bank of China was considering a cut to the deposit rate, said three traders in Shanghai, adding to pressure from corporate dollar demand.
Pulling the yuan in the other direction was a softer greenback, as investors braced for a likely jump in U.S. claims for unemployment benefits as companies lay off workers due to the epidemic.
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The euro topped an 11-week high on Wednesday, on track for a seven-day winning streak
03 Jun 2020 02:34 PM
The Indian rupee fell for the first time in four sessions against the U.S. currency, as consistent dollar demand from state-run banks
03 Jun 2020 11:45 AM
Indian shares extended gains for a sixth session and the Nifty crossed the 10,000 mark for the first time since March 13, as Asia's third-largest economy gradually comes out of COVID-19 lockdowns and risk appetite picks up in global markets.
03 Jun 2020 11:16 AM
The yuan took a breather on Wednesday after strengthening against the dollar for four straight days
03 Jun 2020 10:45 AM
Gold traded steady on Wednesday after snapping a three-session winning streak in the previous day, as a rally in equity markets on hopes of more stimulus offset some support from a weaker dollar.
03 Jun 2020 10:32 AM
Indian rupee hit the highest level in five weeks and was at 75.23/75.24 to the dollar against 75.3625/75.3725 in the previous session