Economics
Yuan Forwards Gain on Stronger Fixing; Goldman Upgrades Growth
This article is for subscribers only.
Yuan forwards gained for a second day after China’s central bank set a stronger reference rate and amid speculation capital inflows will increase after the government eased investment limits.
The People’s Bank of China raised the yuan reference rate for a second day to near a two-week high and a government report today showed new home prices increased in 53 of 70 major cities in November. Goldman Sachs Group Inc. boosted its economic growth forecasts for the current quarter and 2013, citing a recovery in manufacturing. On Dec. 14, China announced measures granting foreign sovereign wealth funds and central banks wider access to local capital markets.