Yuan falls as PBOC cut reference rate amid weak Yen

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Source: Bloomberg
The Chinese Yuan declined to a six-week low as the nation's central bank reduced its reference rate for a second consecutive day, boosting speculation it is willing to slow appreciation to support exports amid weakening Yen. The PBOC cut the fixing by 0.03% to 6.2898 per U.S. Dollar, the weakest since December 27. The Yuan lost 0.04% to 6.2340 per Dollar at 10:14 a.m. in Shanghai. 
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Thu, 07 Feb 2013 07:32:04 GMT

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