Yuan Outpaced by Euro, Pound Sees China’s Currency at 2014 Low
- Yuan falls most in two weeks against trade-weighted basket
- Repo rate increases for third day to highest in a month
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The yuan declined to the lowest level since October 2014 against a basket of currencies as easing concern over a U.K. exit from the European Union propelled gains in the euro and the British pound.
A Bloomberg replica of the CFETS RMB Index dropped 0.3 percent against a trade-weighted basket, the biggest decline in two weeks. The People’s Bank of China set the reference rate 0.1 percent stronger, compared with a 0.9 percent, two-day decline in the Bloomberg Dollar Spot Index.