News Column

Yuan Rises To 4-day High Against US Dollar

June 5, 2014

BEIJING (Alliance News) - The yuan strengthened against the US dollar in the Asian session on Friday.

Against the greenback, the yuan rose to a 4-day high of 6.2457. The pair closed yesterday's deals at 6.2550.

If the yuan extends its uptrend, it is likely to find resistance around the 6.23 area.

The People Bank of China set today's central parity rate for yuan at 6.1623 per dollar, compared to Thursday's reference rate of 6.1708. The central bank sets the reference rate every morning and allows the currency to move upto 2% from that level.

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Source: Alliance News

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