The Chinese yuan strengthened against the U.S. dollar in the Asian session on Friday.
In economic news, data from the National Bureau of Statistics showed that China’s official manufacturing Purchasing Managers’ Index or PMI came in at 49.7 in December, slightly better than 49.6 reported in November. The non-manufacturing PMI rose to 54.4, from 53.6 in November.
Against the greenback, the yuan rose to a 2-day high of 6.4895.
If the yuan extends its uptrend, it is likely to find resistance around the 6.47 area.
Published: 2016-01-01 04:21:00 UTC+00
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