© Reuters. The dollar does not fluctuate while the Yuan climbs
Investing.com – The chinese yuan has continued to rebound after the lows of several months, while the u.s. dollar remained stable on Tuesday morning in Asia.
The dollar index, which tracks the greenback’s strength against a basket of six major currencies, has gained a bit of ground in the trade in the morning in Asia, rising just 0.02% to 93,82 at 00: 30 (0430 GMT).
The dollar had rallied during the night from its lowest point in more than three weeks, spurred by the decline of the pound sterling. The political unrest in the United Kingdom caused by the resignation of the minister of foreign Affairs, Boris Johnson, have helped to strengthen the greenback.
In addition, the people’s Bank of China fixed the reference rate for the yuan to 6.6259 Tuesday morning, since 6.6393 established Monday.
The pair USD / CNY was down by 0.16% to 6,6052 while the chinese currency continues to deviate from its lowest level in 11 months 6,7344 reached on 3 July.
The foreign exchange reserves of China have increased unexpectedly to $ 1.51 billion in June to 3,112 billion, despite a forecast decline of $ 10.6 billion.
At least for today, the markets seem to ignore the trade dispute between the United States and China, preferring to focus on the economic data and the political upheavals in the United Kingdom.
In Japan, the pair USD / JPY rose 0.21% to 111,06, the yen continued to lose ground against the greenback and touching its lowest level since may 21.
The current account of Japan has shown that the surplus fell to JPY1.85 billion, according to data released Monday, easily surpassing estimates of JPY1.18 billion.
Elsewhere, the AUD / USD pair also rose by 0.17% to 0,7480 $, continuing its rise since mid-June.