Economics
Yuan Climbs for Second Day as Data Spur Bets Economy Recovering
- Industrial profits grew faster in June than a month earlier
- Traders await Fed statement for clues on interest-rate outlook
Yu: China Can't Afford Any More Policy Mistakes
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The yuan gained for a second day as economic data supported optimism that China’s growth is recovering.
Industrial profits climbed more in June than they did a month earlier, according to a report released Wednesday, following data earlier this month that had second-quarter gross domestic product and June retail sales beating forecasts. Traders are waiting for a Federal Reserve statement after its meeting this week for clues on monetary policy outlook.