Currency News

Chinese yuan falls to more than 5-year low on Brexit fears

China's yuan fell to its weakest level against dollar in more than five years on Friday as early voting suggested Britain was on the brink of leaving the European Union, threatening the existence of the entire bloc and its single currency.

The yuan hit an intraday low of 6.6148 at 10:45 a.m. (0245 GMT), its weakest since January 2011 and off more than 0.5 percent from its close of 6.5795 on Thursday.

The British pound slumped more than 7 percent against the dollar as turmoil came to world markets

With results declared from 206 of 382 voting districts plus parts of Northern Ireland, Leave was ahead by 51.3 percent to 48.7 in the referendum. 

original source: http://www.reuters.com/article/china-yuan-idUSB9N164028

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