18.02.202006:46:00UTC+00Chinese Yuan Slides To Near 2-week Low Against U.S. Dollar

The Chinese yuan underperformed against the U.S. dollar in the Asian session on Tuesday, as investors assessed the potential impact of the coronavirus on economy.

The yuan declined to near a 2-week low of 7.0041 against the greenback from yesterday's closing quote of 6.9805. Immediate support for the yuan is seen around the 7.02 mark.

The People's Bank of China set today's central parity rate of the yuan at 6.9826 per dollar, compared to Monday's rate of 6.9795. The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.