LONDON, Jan 15 (Reuters) – The yuan fell on Monday to a one-month low after China’s central bank surprised markets by keeping its medium-term policy rate steady, while the dollar was little changed on Martin Luther King (MLK) Jr. Day, a U.S. public holiday. The People’s Bank of China (PBOC) left interest rates unchanged when rolling over maturing medium-term policy loans, defying market expectations for a cut to shore up China’s bumpy post-pandemic economic recovery. That sent the onshore yuan sliding to a one-month low of 7.1813 per dollar before recouping some of those losses to trade down 0.08% at 7.1746. Its offshore counterpart fell as far as 7.1912 per dollar, languishing near Friday’s one-month trough. “Some economists have argued…
Published Date: 2024-01-15
Source: Market Screener
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