Forex

Dollar Plummets Against Yuan on Friday

Dollar slips and yuan soars as investors eye Biden presidency

Wagering on Joe Biden’s presidency, investors invested their stakes in Chinese currency yuan as opposed to the US dollar in the early sessions of trades on Friday.

The Chinese currency jumped to seventeen months high, considering the left-leaning ideology of Biden. The price of the dollar slipped toward a small loss.

Yuan is making a lead over the greenback ever after opening post the mid-autumn break. It is capitalising on the softening dollar price. Interestingly, the currency recorded its highest one day jump in nearly two years. As per investors, it was a clear indication of Biden leading the polls ahead of November 3 presidential elections.

Leave a Reply

Your email address will not be published. Required fields are marked *