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Chinese Yuan Strengthens as Manufacturing Growth Accelerates

August 1, 2017 at 11:51 by Vladimir Vyun

Chinese 100-yuan notesThe Chinese yuan edged higher against the US dollar after a private report showed that expansions of the nation’s manufacturing sector accelerated last month.

The Caixin China General Manufacturing PMI rose from 50.4 in June to 51.1 in July. It showed the fastest pace of growth in four months. Released yesterday, the official manufacturing Purchasing Managers’ Index slipped from 51.7 in June to 51.4 in July.

USD/CNY slid 0.1% to 6.72 as of 11:49 GMT today.

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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