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US election wrap-up brings more certainty

CCTV.com

11-11-2016 14:53 BJT

The Chinese yuan has maintained its falling streak against the US dollar, refreshing a six-year low. The People's Bank of China has set the currency's mid-point rate at 6.8115,  versus Thursday's 6.7885.

The size of the fall was within the range forecast by analysts.

Meanwhile, they're also saying there's now more certainty in US financial markets -- since the presidential election was wrapped up -- and this is fueling expectations of a stronger US dollar against the yuan.

Recent weaknesses in broader Asia's foreign exchange market have also given greater leeway for a further depreciation of the yuan.

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