China's onshore Yuan hits lowest since March 2008

Omkar Godbole FXStreet Contributor

China's onshore Yuan exchange rate (CNH) has weakened to 7.0736 per US Dollar, the weakest level since March 19, 2008, according to Reuters.

The offshore exchange rate, as represented by the USD/CNH pair, is currently trading at a nine-day high of 7.0867.

The Chinese currency has come under pressure a day after the minutes of the Federal Reserve's July meeting showed the policymakers were reluctant to start a full-blown easing cycle.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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