Yuan Pares Biggest Monthly Decline Since May as Greenback Drops
- PBOC currency forward positions surge in intervention sign
- Goldman flags depreciation bias amid 6.7% drop against basket
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China’s yuan advanced, paring its biggest monthly loss since May, as a gauge of dollar strength declined.
The currency traded in Shanghai’s spot market climbed 0.13 percent to 6.7720 a dollar as of 5:28 p.m local time, trimming its retreat for October to 1.4 percent. The offshore rate is down 1.6 percent for the month. The Chinese currency has been moving in tandem with the dollar, which slumped Friday after the Federal Bureau of Investigation said it is reopening an inquiry into Hillary Clinton’s use of private e-mail while she was secretary of state.