Chinese Yuan Rises To 2-day High Against U.S. Dollar
01:00, 31st October 2014
(RTTNews) - The Chinese yuan strengthened against the U.S. dollar in the Asian session on Friday.
Against the greenback, the yuan rose to a 2-day high of 6.1103 from an early low of 6.1172. At yesterday' close, the yuan was trading at 6.1145 against the greenback.
If the yuan extends its uptrend, it is likely to find resistance around the 6.10 area.
The People's Bank of China set today's central parity rate for yuan at 6.1461 per dollar, compared to Thursday's reference rate of 6.1457. The central bank sets the reference rate every morning and allows the currency to move up to 2 percent from that level.
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