FX Alerts

Dollar gains amidst yuan-depreciation warning

27/06/12 @ 13:08 GMT by Michael Derks, Chief Strategist


Amidst otherwise moribund trading conditions, the dollar has edged higher after a Dow Jones story quoting a Chinese finance ministry official who opined that the yuan could depreciate significantly in the months ahead. He also claimed this yuan weakness might necessitate intervention. In response, the euro is down near 1.2475, cable has dropped back under 1.56, and USD/JPY is up at 79.75. Gold is slightly weaker, although the Aussie is holding firm up around 1.0070.

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