The yuan weakened against the U.S. dollar in the Asian session on Wednesday.
Against the greenback, the yuan fell to more than a 3-week low of 6.2623, down from yesterday’s closing quote of 6.2475.
If the yuan extends its downtrend, it is likely to find support around the 6.27 zone.
The People Bank of China set today’s central parity rate for yuan at 6.1694 per dollar, compared to yesterday’s reference rate of 6.1687. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level.
