21:33, 04-Jan-2018
Chinese FX: Yuan gains 49 bp in spot market
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Now for an update on the Chinese yuan.
The People's Bank of China lowered its official midpoint Thursday for the first time in five days as the dollar strengthened on solid U.S. economic data. But the onshore yuan bounced back to 6.4968. Analysts expect the dollar to strengthen through 2018 and drag the Chinese currency weaker. That's after the yuan appreciated 7 percent against the USD in 2017.
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Copyright © 2018 CGTN. Beijing ICP prepared NO.16065310-3
Copyright © 2018 CGTN. Beijing ICP prepared NO.16065310-3