China's yuan started trading against the Australian dollar and Canadian dollar in the country's onshore forex market on Monday, the latest currency pairs to be introduced as part of Beijing's efforts to promote the use of its currency. The yuan opened at 6.1266 against the Canadian dollar after the People's Bank of China (PBOC) set the yuan/ Canadian dollar's mid-point at 6.1048. It opened at 6.2769 against the Australian dollar, also slightly weaker compared with the PBOC's fixing of 6.2491. The currency pairs are moving roughly around their opening prices. The pricing of the yuan largely reflected the value of the ... (full story)