The Chinese yuan rose today as the People’s Bank of China increased its reference rate. The general mood on the Forex market was also positive for the currency, allowing it to go higher.
The PBoC set its daily fixing 0.12 percent higher at 6.3028 per dollar today. That was the highest level since June 20. Speculations that China is going to add stimulus were also bullish for the yuan.
USD/CNY fell from 6.2647 to 6.2553 as of 12:47 GMT today.
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