Chinese Yuan Advances To 8-day High Against U.S. Dollar
30 Enero 2020 - 7:44PM
RTTF2
The Chinese yuan strengthened against the U.S. dollar in the
Asian session on Friday, as China's official manufacturing data met
expectations.
Survey from the National Bureau of Statistics showed that China
manufacturing sector fell into stagnation in January - posting a
manufacturing PMI score of 50.0.
That's down from 50.2 in December, and it now sits right on the
line that separates expansion from contraction. It matched
expectations.
The yuan climbed to an 8-day high of 6.9314 against the
greenback from yesterday's closing value of 6.9363. The yuan is
likely to find resistance around the 6.8 mark.
The People's Bank of China set today's central parity rate of
the yuan at 6.8876 per dollar, compared to Thursday's rate of
6.8853. The Chinese central bank sets central parity rate every
morning and allows the yuan to fluctuate up to 2 percent from that
level.
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