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China's yuan inches higher as PBOC sets firmer guidance
HONG KONG: China’s yuan ticked up against the dollar on Thursday after the country’s central bank set a stronger daily midpoint, though gains were capped by a firmer greenback amid rising bets for a Federal Reserve rate hike. The spot yuan was 0.1% higher at 6.6684 to the dollar as of 0323 GMT, after trading in a range of 6.6667 to 6.6718. Before the market opened, the People’s Bank of China set the midpoint rate at 6.7174 per dollar, 377 pips weaker than a Reuters estimate, but firmer than 6.7191 per dollar in the previous session. The spot yuan is allowed to trade 2% either side of a fixed ...
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