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Three-week low of U.S. Dollars as Yuan Rallied

January, 06 2017
watermark Economic news

The U.S. dollar plunged over the past three weeks against a basket of other major currencies on Thursday since unemployment data and U.S. inflation rate did not bring a reversal. Yet, China’s yuan has its highest gains recorded. The offshore yuan gained its highest profit against the greenback in almost two months.

It induced investor to sell more bringing the dollar lower to its lowest rate since 24th of December last year. Despite the positive data from the Supply Management;s non-manufacturing Purchasing Manager’s Index (PMI), it was not enough to bring momentum in the market. Although, this may shift back to its peak as the market returns after the Holidays in December last year.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.