SHANGHAI -- The yuan is hovering within striking distance of a 15-year-plus low against the dollar as U.S. interest rates settle firmly above their Chinese equivalents, limiting Beijing's options for reenergizing a sluggish economy.
The Chinese currency ended the trading day in Shanghai on Wednesday at 7.244 against the dollar. The yuan had softened to 7.273 last Friday -- its lowest point since last November -- two days after the People's Bank of China's monetary policy committee held a quarterly meeting at which it said it would "fend off the risk of drastic ups and downs in exchange rates."
