Chinese Yuan Hits 4-day High Against U.S. Dollar
June 17 2012 - 11:40PM
RTTF2
During the Asian session on Monday, the Chinese yuan spiked up
against the U.S. dollar. The yuan is presently trading at a 4-day
high of 6.3533 against the greenback, compared to last week's close
of 6.3663. The next upside target level for the yuan is seen at
6.34.
The People's Bank of China set today's central parity rate for
the yuan at 6.3005 per dollar, higher than Friday's daily reference
rate of 6.3089. The Chinese central bank sets the central parity
rate every morning and allows the currency to fluctuate up to 1
percent from the level.
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