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China’s yuan inches up on robust stock inflows, eyes on US data and China parliament

From brecorder.com

China’s yuan rose slightly against the dollar on Thursday, underpinned by robust northbound inflows into Chinese stocks, while investors awaited the annual meeting of the country’s parliament and key US data for more clues on the economic agenda for this year. A-share performance has affected broader financial market sentiment over the past few months, traders said, and inflows of about 13 billion yuan ($1.81 billion) through the northbound stock trading link in morning trades supported the currency. Prior to market opening, the People’s Bank of China (PBOC) set the midpoint rate, around which the yuan is allowed to ... (full story)

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  • Category: Fundamental Analysis