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China’s yuan eases on worries over geopolitical tensions
China’s yuan inched lower against the dollar on Tuesday, under downward pressure from the greenback’s strength in global markets and signs of geopolitical tensions. Before the market opened, the People’s Bank of China (PBOC) set the yuan’s midpoint rate at 6.8557 per dollar, 86 pips or 0.13% firmer than the previous fix of 6.8643. In the spot market, the onshore yuan opened at 6.8605 per dollar and was changing hands at 6.8692 at midday, 129 pips weaker than the previous late session close. Currency traders said risk-averse sentiment weighed on the yuan. Some investors were cautious about the upcoming ... (full story)