Yuan Nudges Two-Month Apex Against Dollar
Tang Shihua
DATE:  Oct 14 2019
/ SOURCE:  yicai

(Yicai Global) Oct. 14 -- The yuan sustained its strong rebound against the US dollar, rising to its strongest point in nearly two months early this morning, as investor confidence in the redback continued to warm after latest trade data, along with substantial progress in high-level economic and trade talks between China and the US.
 

The onshore yuan gained 0.31 percent to 7.0647 as of 11.00 a.m. in a pinnacle unseen since Aug. 22, while the international yuan traded at 7.0656, up 0.34 percent at the same time. The yuan has been on a mini-upward trend Since Oct. 8, China's first trading day after the week-long National Day holiday.
 

The country's trade surplus reached CNY2.05 trillion (USD290 billion) in the first three months, up 44.2 percent from the same period last year, the country's General Administration of Customs announced today.

Editor: Ben Armour

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Keywords:   Foreign Exchange Market,CNY,CHN,USD