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The Yuan Friday saw its strongest........>

CHINA YUAN
MNI (London)
CHINA YUAN: The Yuan Friday saw its strongest close since December, 2015.
- Yuan rose 0.3% from Thursday, closing at 6.4040 against the U.S. dollar.
- USD-CNY weakened as low as 6.3888 for the day, the lowest in over two years.
- PBOC set yuan central parity rate vs U.S. dollar at 6.4169 on Friday, stronger
than Thursday's 6.4401. The PBOC has set the fixing stronger for four trading
days out of five this week, which led to total 1.18% gain in the fixing. Today's
fixing marks the highest since Dec 9, 2015.
***MNI has learned from market sources that the market participants are cautious
on trading following the rapid rise of the yuan. As a result, the thin liquidity
has helped further boosted the yuan. In short term, the USD-CNY is likely to be
weak as long as the dollar index continues to fall.
*Data from China Foreign Exchange Trade System
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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