Wednesday, March 4, 2015

Dollar weak, but keeps two-year high against China yuan

11:17 AM

Forex tips

The dollar slipped Tuesday following a mixed slate of US manufacturing data, but it was sitting at a two-year high against China's yuan after Beijing cut interest rates at the weekend for the second time in three months. In Tokyo, the dollar fetched 119.71 yen, down from 120.17 yen in New York, while the euro rose to $1.1197 from $1.1182. The greenback was also at 6.2748 yuan, against 6.2850 in US trade, levels not seen since October 2012, and well up from 6.2668 on Friday before the rate cut.

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