(Yicai Global) Dec. 5 -- The Chinese yuan opened softer against the US dollar today after two consecutive days of strong upward trajectory, as investors started to question if a trade truce between China and the US will hold. 

In the past two trading days, the cumulative rise of the redback against the US dollar reached a whopping 1215 basis points on the onshore market. 

The onshore yuan's spot rate opened at 6.8500, which was weaker that the 6.8401 at the close yesterday. The offshore spot exchange rate was trading at 6.8519 in the morning session.

The People's Bank of China set the central parity rate between the two currencies 463 basis points lower at 6.8476 today than that of the previous trading day.  

The US stock market tumbled yesterday with the benchmark Dow Jones Industrial Average falling nearly 800 points as investors worried over the fact that the Chinese and American official statements of the 90-day ceasefire did not match, which may erode the fundamentals for a more permanent trade agreement. 

Editor: Emmi Laine