The Chinese yuan advanced today after the gauge of the nation’s manufacturing sector demonstrated an increase this month which was above economists’ projections.
The HSBC Flash China Manufacturing Purchasing Managersâ Index climbed from 50.7 in June to 52.0 in July, reaching the highest level in 18 months. The actual reading was above the median forecast of 51.2. The data eased concerns about economic slowdown in China, allowing the yuan to gain ground.
USD/CNY went down from 6.1987 to 6.1949 as of 19:23 GMT today.
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