Chinese Yuan Rises To 2-day High Against U.S. Dollar
December 04 2014 - 10:13PM
RTTF2
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 6.1372
from an early low of 6.1549. At yesterday's close, the yuan was
trading at 6.1500 against the greenback.
If the yuan extends its uptrend, it is likely to find resistance
around the 6.12 area.
The People Bank of China set today's central parity rate for
yuan at 6.1373 per dollar, compared to Thursday's reference rate of
6.1411. The central bank sets the reference rate every morning and
allows the currency to move upto 2 percent from that level.
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