The Chinese yuan fell despite PBOC's efforts

Today, Yuan Dong is still decreasing although PBOC is trying to strengthen the currency through a value of $74 billion in the country's banking system. Separately, the Chinese Foreign Ministry spokesman, Mr. Geng Shuang, said this country did not seek to promote his exports through the currency of the Yuan dong. "The exchange rate of yuan is largely determined by market supply and demand, this rate of increase decreases volatility by market," Geng said. His comments were made after the rumors of President Donald Trump last Friday on Twitter, allegations of China and the EU knowingly controlling their currency. The Chinese yuan dollar discounts against US dollars when the USD/CNY rate rose 0.36% to 6.8177 on Monday. Some investors believe that the yuan will continue to go down. Vladimir Signorelli, a macro investment analyst at Bretton Woods Research, said: "If the dollar continues to rise and gold drops below 1,200 PER ounce, you should not be surprised to see the yuan Dong increased by 7 USD. The correlation between them is powerful. "Meanwhile, the dollar stabilized on Tuesday after a sharp decline in the session before Trump told CNBC on Friday last week that he was" not excited "about the decision to raise interest rates of the Federal Reserve. At the beginning of the seventh day, Finance Minister Steve Mnuchin attempted to alleviate the fears of a monetary war at the G-20 meeting, confirming the Fed's independence and stating that the Government would not interfere. Mitsuo Imaizumi, Daiwa Securities's monetary strategy expert, said: "The U.S. economy is in a very healthy condition. It is impossible to imagine the Federal Reserve will stop raising interest. "

The US Dollar index increased by 0.01% to 94.43 at 12:01 AM ET (04:01 GMT). In other markets, the Japanese yen rose stronger than the dollar, the USD/JPY discount is 0.09% to 111.24. The yen reaches its highest peak in two weeks on Monday.