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Chinese Yuan Edges Lower Against US Dollar

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day, Xinhua news agency reported

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FILE - Chinese 100 yuan banknotes are seen on a counter of a branch of a commercial bank in Beijing, China, March 30, 2016. -VOA

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 45 basis points to 6.8586 against the US dollar Friday, according to the China Foreign Exchange Trade System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day, Xinhua news agency reported.

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The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (IANS)

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US Dollar Rose up Amid Economic Data

Meanwhile, the more stable four-week moving average was 220,750, a decrease of 1,000 from the previous week's unrevised average of 221,750

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US Dollar Image, pixabay

The US dollar rose slightly amid strong economic data.

In late New York trading on Thursday, the euro was down to $1.1390 from $1.1398 in the previous session, and the British pound rose to $1.2987 from $1.2870 in the previous session, Xinhua news agency reported.

The Australian dollar increased to $0.7200 from $0.7176.

The dollar index, which measures the greenback against six major peers, rose 0.01 per cent at 96.0658 in late trading.

The US dollar bought 109.03 Japanese yen, lower than 109.37 Japanese yen of the previous session.
US dollar edges up amid economic data., Pixabay

The US dollar bought 109.26 Japanese yen, higher than 108.92 Japanese yen of the previous session. The US dollar increased to 0.9937 Swiss franc from 0.9906 Swiss franc, and it rose to 1.3266 Canadian dollars from 1.3249 Canadian dollars.

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In the week ending January 12, the advance figure for US initial jobless claims, a rough measure of layoffs, was 213,000, down 3,000 from the previous week’s unrevised level, the Department of Labor reported on Thursday. The reading was lower than market consensus.

Meanwhile, the more stable four-week moving average was 220,750, a decrease of 1,000 from the previous week’s unrevised average of 221,750. (IANS)

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