RTTN:Chinese Yuan Strengthens To 2-day High Against U.S. Dollar
The Chinese yuan gained ground against the U.S. dollar in Asia on Wednesday.
The yuan hit a 2-day high of 6.1314 per dollar, compared to yesterday's closing value of 6.1395. On the upside, 6.12 is seen as the next resistance level for the yuan.
The People's Bank of China set today's central parity rate for the yuan at 6.1652 per dollar, compared to yesterday's reference rate of 6.1692. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1% from the level.
