Yuan's Longest Drop Since 2015 Hangs in Balance After Strong Fix
- Chinese currency had retreated in the previous nine sessions
- Goldman, BofAML among banks to slash forecasts for the yuan
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China’s yuan inched lower even after the central bank set the daily fixing stronger than expected.
The yuan slipped 0.03% to 7.1648 a dollar as of 5:38 p.m. in Shanghai. The currency entered the day having fallen in the previous nine sessions, the longest slump since December 2015. The People’s Bank of China earlier set its reference rate at 7.0835, compared with the 7.1126 average forecast by traders and analysts in a Bloomberg survey.