Yuan Trades Near Two-Month High as U.S. Rate Concerns Recede
- Shenzhen stock connect will boost yuan status, HSBC says
- Sovereign bonds resume advance as 10-year yield declines
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China’s yuan strengthened, tracking an advance in Asian currencies, as minutes of the Federal Reserve’s latest meeting indicated that officials are far from a consensus on raising interest rates.
The Chinese currency climbed 0.05 percent to 6.6309 a dollar as of 4:42 p.m. in Shanghai, China Foreign Exchange Trade System prices show. It rose to 6.6190 earlier, the strongest level since June 24. The offshore yuan weakened 0.05 percent, and a gauge of the dollar fell toward a three-month low.