The Chinese yuan gained on the US dollar today even though macroeconomic reports from the Asian nation were not particularly good, feeding concerns about slowdown of the world’s second-biggest economy.
China’s annual inflation slowed from 2.5 percent in May to 2.3 percent in June, being below the forecast value of 2.4 percent. The Producer Price Index fell 1.1 percent last month from a year ago. The data was less than stellar, yet the yuan was still able to outperform the dollar.
USD/CNY was down from 6.2015 to 6.1988 as of 11:51 GMT today, reaching the low of 6.1955 intraday.
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