Yuan hits all-time high

[ via Reuters ] 26 Dec

The yuan closed up against the dollar on Monday after hitting an all-time high in intraday trading, guided by a stronger mid-point by the People's Bank of China, and looks set for an over-4-percent appreciation for 2011, traders said.

The yuan is expected to remain stable or rise slightly in the last week of the year to close 2011 near 6.30 versus the dollar, in line with market expectations.

Read more: Reuters

Posted in: China, Currency, Dollar, USA, Yuan