Pessimistic Economic Outlook Weighs on Chinese Yuan ETFs
April 23, 2014 at 14:54 PM EDT
Even as the People’s Bank of China pegs the currency at a higher rate relative to the U.S. dollar, Chinese yuan exchange traded funds weakened Wednesday, with the yuan currency touching a 16-month low. The WisdomTree Dreyfus Chinese Yuan Fund (NYSEArca: CYB) was down 0.2% Wednesday. CYB is...