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China’s yuan closes up nearly 1 percent against the dollar

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China’s choices narrowing as it burns through FX reserves to support yuan

China's choices narrowing as it burns through FX reserves to support yuan*/

A 100 yuan banknote (R) is placed next to a $100 banknote in this picture illustration taken in Beijing November 7, 2010.REUTERS/Petar KujundzicSINGAPORE As China’s foreign exchange reserves threaten to tumble below the critical $3 trillion mark, the biggest fear for investors is not whether Beijing can continue to defend the yuan but whether it will set off a vicious cycle of more outflows and currency depreciation.Data this week is expected to show China’s forex reserves precariously perched just above $3 trillion at end-December, the lowest level since February 2011, according to a Reuters poll.
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China’s yuan soars against dollar as liquidity tightens offshore

China's yuan soars against dollar as liquidity tightens offshore*/

FILE PHOTO: Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China, March 30, 2016.REUTERS/Kim Kyung-Hoon/File PhotoHONG KONG/SHANGHAI China’s yuan soared against the U.S. dollar on Thursday following a sharp rise in the offshore spot rate as China worked to stem capital flows and stabilize the currency ahead of Donald Trump’s inauguration as U.S. president and the Lunar New Year.The offshore yuan CNH=D3 gained 0.8 percent against the dollar and traded at 6.8151 as of 0830 GMT (3.30 a.m.
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China’s offshore yuan rises sharply to near 2-month high as funding costs spike

China's offshore yuan rises sharply to near 2-month high as funding costs spike*/

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China’s yuan closes up nearly 1 percent against the dollar

China's yuan closes up nearly 1 percent against the dollar*/

100 Yuan notes are seen in this illustration picture in Beijing, China November 5, 2013.REUTERS/Jason Lee/File PhotoSHANGHAI China’s spot yuan finished up nearly 1 percent against the dollar on Thursday, supported by gains by the offshore yuan.The spot market opened at 6.9280 per dollar and was changing hands at 6.8817 at 4:30 p.m (0830 GMT), 489 pips away from the previous late session close and 0.71 percent firmer than the midpoint.
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