Yuan calm against dollar even as Russia-Ukraine crisis deepens

Yuan was little changed against the dollar on Wednesday, as traders see limited short-term impact from the Russia-Ukraine crisis, while further western sanctions could benefit currency in long run.

China's yuan was little changed against the dollar on Wednesday, as traders and analysts see limited short-term impact from the Russia-Ukraine crisis, while further western sanctions against Moscow could even benefit the currency in the long run. The yuan was changing hands at 6.3280 per dollar around midday, little changed from the previous late session close, despite the People's Bank of China (PBOC) setting the midpoint at a four-week high.

Western nations and Japan on Tuesday punished Russia with new sanctions for ordering troops into separatist regions of eastern Ukraine and threatened to go further if Moscow launched an all-out invasion