business

Yuan Breaks 6.4 Per Dollar in Test for China Central Bank: Chart

A view of the head quarters of the People's Bank of China in Beijing, China

Photographer: Qilai Shen/Bloomberg

China’s appetite for currency strength is being put to the test as the yuan rallies beyond the symbolically key level of 6.4 per dollar for the first time since December 2015. Analysts are divided on whether the authorities will intervene to slow the pace of gains. While the currency has climbed more than 3 percent against the greenback in the past three months, it’s little changed against the euro, suggesting dollar weakness is the driving factor behind the yuan’s strength.

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