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Yuan flat against US dollar in thin holiday trade
China’s yuan held tight ranges against the dollar on Tuesday in thin holiday trade and as thecountry’s central bank vowed to keep the foreign exchange market stable in the new year. The yuan was changing hands at 6.3723 at midday, little changed from the previous late session close, after China’s central bank set a slightly weaker midpoint rate . The market remains in holiday mood and the yuan will likely continue to move in a narrow range, barring major, unforeseen events, traders say.“I don’t see trading opportunities in the short term,” said a trader at a foreign bank in China. China’s foreign ... (full story)