Three-week low of U.S. Dollars as Yuan Rallied
January, 06 2017
The U.S. dollar plunged over the past three weeks against a basket of other major currencies on Thursday since unemployment data and U.S. inflation rate did not bring a reversal. Yet, China’s yuan has its highest gains recorded. The offshore yuan gained its highest profit against the greenback in almost two months.
It induced investor to sell more bringing the dollar lower to its lowest rate since 24th of December last year. Despite the positive data from the Supply Management;s non-manufacturing Purchasing Manager’s Index (PMI), it was not enough to bring momentum in the market. Although, this may shift back to its peak as the market returns after the Holidays in December last year.
