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Yuan Rises as Manufacturing Expands for First Month in Four

August 22, 2013 at 11:54 by Vladimir Vyun

A fan of 50-yuan billsThe Chinese yuan rose a little today, erasing previous losses, as the manufacturing sector unexpectedly expanded this month, reducing risk aversion caused by yesterday’s Federal Reserve’s policy minutes.

The HSBC Flash China Manufacturing Purchasing Managers’ Index rose from 47.7 in July to 50.1 in August. It was the first reading above 50.0 (which indicates expansion) since April. Analysts have predicted an increase to just 48.3.

USD/CNY fell from 6.1233 to 6.1216 as of 11:53 GMT today after rising to 6.1261 earlier.

If you have any questions, comments, or opinions regarding the Chinese Yuan, feel free to post them using the commentary form below.

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