Yuan Gauge Nears Record High Even as China Moves to Slow Rally
(Bloomberg) — The yuan is approaching its strongest level against trade partners’ currencies even as China’s central bank tries to slow its ascent with weaker-than-expected daily fixings.
The Bloomberg replica of the CFETS RMB basket index rose 0.2% to 102.6044, nearing the record touched in August 2015. The index, which measures the yuan against 24 trading partners, is set for a third straight day of gains.
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