Renminbi hits two-month high in wake of dovish Fed

Renminbi reaches highest level against US dollar in two months as Fed cuts projected rate path

High jumper

The Chinese renminbi today reached its highest level against the US dollar in two months, as an unexpectedly dovish monetary policy statement from the Federal Reserve prompted what one analyst describes as "aggressive moves" in Asian currency markets.

The renminbi, whose value fluctuates around a fixed level set daily by the People's Bank of China (PBoC), was trading at 6.19 against the dollar at the time of writing – its strongest level since January 15.

The appreciation follows a gradual

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: