BEIJING: The Chinese yuan strengthened against the U.S. dollar in the Asian session on Thursday.
Against the greenback, the yuan rose to a 2-month high of 6.1971 from yesterday’s closing value of 6.2290.
If the yuan extends its uptrend, it is likely to find resistance around the 6.18 area.
The People Bank of China set today’s central parity rate for yuan at 6.1460 per dollar, compared to Wednesday’s reference rate of 6.1556. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level.
