The U.S. dollar lost some ground on Wednesday, after the Federal Reserve decide to raise interest rates for the first time in nearly a decade.
The U.S. dollar rebounded from a roughly six-week low against the euro on Tuesday.
The dollar turned positive, after edging lower on worries that oil prices and credit market turmoil could limit U.S. interest rate hikes.
By shifting to a trade-weighted basket, China is underlining the fact that the renminbi is overvalued, says Michael Every, head of financial markets research for APAC at Rabobank.
Weighing against a currency basket will let the PBOC depreciate the yuan against the dollar while keeping it stable against other Asian currencies, says Wayne Gordon, commodities and FX strategist at UBS Wealth Management.
Francis Cheung, head of China and Hong Kong strategy at CLSA says the PBOC's switching of the renminbi targeting to a basket of currencies will likely see the yuan under pressure in near term.
The dollar fell on Friday against key world currencies amid a selloff sparked by market volatility concerns.
Jeremy Stretch, head of FX strategy at CIBC, talks about the Chinese economy and shares his outlook for China's currency.
The Swiss franc rose against the euro on Thursday after Switzerland's central bank kept interest rates on hold at record lows.
Divya Devesh, Asia FX strategist at Standard Chartered Bank, explains why he thinks Chinese authorities are not engineering a yuan devaluation.
The dollar fell on Wednesday as commodity currencies reversed steep losses from Tuesday as oil recovered.
The People's Bank of China set the reference rate for the yuan at a four-year-plus low on Wednesday, underscoring concerns over the economy.
China's Consumer Price Index rose 1.5 percent in November from the same period a year ago, data released on Wednesday showed.
The dollar soared against oil-linked currencies on Tuesday, touching an 11-year high against the Canadian dollar.
The dollar rose broadly on Monday on expectations the Fed is on track to raise interest rates next week.
The U.S. dollar was higher against the euro on Friday after stronger-than-expected U.S. monthly jobs data.
The U.S. dollar hit a nearly one-month low against the euro on Thursday after the European Central Bank cut its interest rate on deposits.
Activity in China's services sector slowed in November from the previous month, according to a private survey.
The U.S. dollar climbed to its highest against the euro in more than seven month.
The Yuan? Yuen? Renminbi? But which one should you use? CNBC's Sara Eisen explains.