Chinese Yuan Rises To 9-day High Against U.S. Dollar
03 November 2023 - 12:35PM
RTTF2
The Chinese yuan strengthened against the U.S. dollar in the
Asian session on Friday.
Against the greenback, the yuan rose to a 9-day high of 7.3114
from a recent low of 7.3128. At yesterday's close, the yuan was
trading at 7.3155 against the greenback.
If the yuan extends its uptrend, it is likely to find resistance
around the 7.29 area.
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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