China Yuan Rises Against Dlr For 5th Month; +5.17 Y/Y

From imarketnews.com

The Chinese yuan continued to rise against the U.S. dollar in June as part of the government's campaign to dampen widespread price pressures. The yuan rose 0.23% this month, compared with May's 0.18% rise, April's 0.88% increase, March's 0.35% gain and February's rise 0.34%. The yuan ended lower at 6.4640 against the U.S. dollar Thursday, compared with Wednesday's close of 6.4635. The State Information Center, a government think tank, said in a report Thursday that consumer inflation is set to hit a new high this month for the current cycle. The SIC suggested the government use more price tools, including the ... (full story)