The Chinese yuan fell against the US dollar today after mixed economic data from China released over the trading session.
China’s services Purchasing Managers’ Index rose from 53.7 to 53.9 in July according to the government data. Meanwhile, the official manufacturing PMI declined from the neutral level of 50.0 to 49.9, indicating a small contraction. At the same time, the private Caixin manufacturing PMI demonstrated an opposite behavior, rising from 48.6 to 50.6, suggesting that the sector has emerged from decline.
USD/CNY rose 0.12% to 6.6427 as of 10:58 GMT today.
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