but heads for best week in two months
SHANGHAI (Reuters) China yuan weakened against the dollar on Friday, due to corporate demand Canada Goose Jackets Sale for the greenback, but the Chinese currency was on track for its best week in more than two uk canada goose outlet months.
Chinese 100 yuan banknotes are seen canada goose coats on a counter of canada goose uk outlet a branch of a commercial bank in Beijing, China, March 30, canada goose uk black friday 2016. REUTERS/Kim Canada Goose Coats On Sale Kyung Hoon/File Photo
In the spot market, the buy canada goose jacket cheap yuan opened at 6.8980 per dollar and was changing hands at 6.9019 at midday, canada goose store 16 pips weaker than the previous late Canada Goose Parka session close and 0.21 percent softer than the midpoint. unit, the Canada Goose sale biggest weekly percentage rise since https://www.canadagooseoutlete.com/ Canada Goose online mid January.
Traders said cheap canada goose uk the domestic forex market shrugged off increases in short term interest rates that China central bank made on Thursday. rates overnight.
On Friday, a state owned Chinese newspaper said canada goose factory sale the United States has historically followed a interest rate policy, warning of negative spillover effects from the Fed rate hiking cycle.
The traders said there would have been a real impact on the domestic market if China had raised its benchmark interest rate.
But the canadian goose jacket increases in inter bank rates had no impact, traders said, as they were catching up with ones the market canada goose clearance had already made.
market was in tentative mood. And there is some resistance at Canada Goose Online around 6.9030 per dollar level, said a Shanghai based dealer at a foreign bank, adding traders were cautious and the yuan dollar Canada Goose Jackets direction not so clear amid uncertainty in the relationship between China and the United States. Secretary of State Rex Tillerson will canada goose uk shop be in Beijing on Saturday and Sunday to meet Chinese President Xi Jinping.
On his first trip to Asia, the former oil uk canada goose executive is seeking to reassure nervous allies facing North Korea growing nuclear and missile threat and press China to do more on perhaps the most serious security challenge confronting President Donald Trump.
China commercial banks sold a net $10.1 billion of foreign exchange in February, the lowest level in six months, down 47 percent from January and the lowest amount since August, data from the foreign exchange regulator showed on Thursday.
The Thomson Reuters/HKEX canada goose coats on sale Global CNH index, which tracks the offshore yuan against a basket of currencies on a daily basis, stood at 94.62, canada goose weaker canada goose clearance sale than the previous day 94.84.
The global dollar index fell to 100.25 from the previous close of cheap Canada Goose 100.36.
The offshore yuan was trading 0.36 Canada Goose Outlet percent firmer than the onshore spot at 6.877 per dollar.
Offshore one year non deliverable forwards canada goose black friday sale contracts (NDFs), considered the best available proxy for forward looking buy canada goose jacket market expectations of the yuan value, traded at 7.0963, 2.95 percent weaker than the midpoint.