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The yuan opened at 6.6341 against the....>

CHINA YUAN
CHINA YUAN: The yuan opened at 6.6341 against the U.S. dollar Friday, weaker
than Thursday's official close of 6.6250, also weaker than today's central
parity rate of 6.6166 set by the PBOC.
- The yuan has weakened for 12 consecutive days now in what is increasingly
looking like a controlled devaluation by the PBOC. However, the authorities
appear to be showing concern over a further collapse, with Shanghai Securities
reporting today that China will remove restrictions on foreign investment in 22
sectors, especially in the service sector, infrastructure and automobile
manufacturing, starting from July 28, 2018,according to a joint statement from
MOFCOM and NDRC. 
- This move may aim to appease the US ahead of potential tariff increases as
well as attract capital into the country amid an increasingly vulnerable
external position. 

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