Chinese Yuan Weakens to 6.7762 Per Dollar After Fed Holds Rates, Accelerates on Powell Comments

According to market data, offshore Chinese yuan (CNH) depreciated to 6.7762 per US dollar on Wednesday (June 17) in New York afternoon trading, down 196 points from Tuesday's close and trading within a range of 6.7539 to 6.7816. The currency accelerated its decline after the Federal Reserve announced its decision to hold rates and released its economic projections (SEP). It fell further following Fed Chair Jerome Powell's press conference, hitting the day's low at 03:39 UTC as markets digested the interest rate outlook.
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