On Monday, the dollar slipped a little, staying close to two-year highs. Meanwhile, traders will look at key U.S. economic reports this week for more information on what it means for the Federal Reserve to raise interest rates.

According to a Reuters report, the Chinese yuan, on the other hand, was in the spotlight after weakening past the critical 7.3 per USD mark in the onshore market on Friday. It was the first time in 14 months that the PBOC had worked hard to keep its level flat throughout December.

The onshore yuan fell 0.05% by Monday, while the offshore yuan rose 0.15% to 7.3487 per dollar.

Ray Attrill, head of FX strategy at National Australia Bank (NAB), said, “The PBOC seems to have stopped defending the 7.30 level.” He added, “This raises questions about whether they are now letting the dollar-yuan pair move into a higher range, which could impact other Asian currencies, as well as the Australian and New Zealand dollars.”

The PBOC set the midpoint rate, at which it trades with banks, ahead of the market’s opening on Monday at 7.1876 yuan per USD, within the 2% range.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed