Yuan Falls To 1-week Low Against U.S. Dollar

The yuan weakened against the U.S. dollar in the Asian session on Tuesday. Against the greenback, the yuan fell to a 1-week low of 6.2115. At yesterday's close, the yuan was trading at 6.2063. If the yuan extends its downtrend, it is likely to find the support around the 6.22 area. The People Bank of China set today's central parity rate for yuan at 6.1490 per dollar, compared to yesterday's reference rate of 6.1485. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level. The material has been provided by InstaForex Company - www.instaforex.com
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