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CHINA PRESS: China regards the yuan's gain against the U.S. dollar secondary to
its stability vs a basket of currencies, PBOC's Financial News newspaper
reported citing unidentified sources.
- China needs not to set limits for the minimum or maximum of the yuan exchange
rate against the U.S. dollar: newspaper citied sources
- Euro's strength contributed to the weakening of the dollar: Financial News
- Yuan's stable rise helps its internationalization, including more use in
global trade and investment, appeal of yuan-denominated bonds, greater yuan
allocation in other foreign nation's FX reserves: newspaper cited sources.
*** TAKEAWAY: Financial News seems positive on yuan's outlook. PBOC may see a
stronger yuan could help China's desire to widen the global use of the yuan.