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Forex News: Chinese Yuan Firms To Near 3-week High Against

Chinese Yuan Firms To Near 3-week High Against U.S. Dollar

12/31/2019 - 02:40:00 (RTTNews)

(RTTNews) - The Chinese yuan appreciated against the U.S. dollar in Asian deals on Tuesday, after a data showed that China's factory activity expanded for the second straight month in December.

Data from the National Bureau of Statistics showed that the manufacturing Purchasing Managers' Index held steady at 50.2 in December.

The score was forecast to fall to 50.0.

The yuan climbed to near a 3-week high of 6.9669 against the greenback from Monday's closing value of 6.9863. The yuan may locate resistance around the 6.8 mark.

The People's Bank of China set today's central parity rate of the yuan at 6.9762 per dollar, compared to Monday's rate of 6.9805. The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.

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