China's yuan steadies at open, but still vulnerable as Brexit anxiety weighs
[SHANGHAI] China's yuan bounced slightly against a slightly weaker US dollar on Tuesday, stepping off 5-1/2-year lows hit the previous day amid cautious trade as global financial markets struggled to shake off the Brexit shock.
The yuan opened at 6.6512 per US dollar in early trade, up from Monday's close of 6.6585 - the lowest close since December 2010. By 0148 GMT, the yuan was at 6.6480. The US dollar index edged down 0.3 per cent.
Prior to the market open, the People's Bank of China fixed its midpoint at 6.6528, its lowest level since December 2010 and 0.2 per cent weaker than the previous fix of 6.6375.
Globally, financial markets continued to be gripped by anxiety after Britain's stunning vote to exit the European Union last week, with the British pound still languishing near its lowest in more than 30 years early on Tuesday.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Oil falls on prospect of higher-for-longer US rates, stronger dollar
Fed officials mull if rates are high enough as inflation expectations jump
US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
UN General Assembly backs Palestinian bid for membership
US chip workers are likely to quit jobs, worsening labour shortage
India's industrial output up 4.9% year-on-year in March