Chinese Yuan Rises To 5-day High Against U.S. Dollar
January 14 2015 - 12:43AM
RTTF2
The Chinese yuan strengthened against the U.S. dollar in the
Asian session on Wednesday.
Against the greenback, the yuan rose to a 5-day high of 6.1949
from an early low of 6.2088. At yesterday's close, the yuan was
trading at 6.1975 against the greenback.
If the yuan extends its uptrend, it is likely to find resistance
around the 6.16 area.
The People Bank of China set today's central parity rate for
yuan at 6.1205 per dollar, compared to Tuesday's reference rate of
6.1195. 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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