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China’s yuan declined for a second day as the central bank cut its daily fixing, forcing the currency to weaken to stay within the permitted trading range.
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China’s yuan advanced to a 19-year high after the central bank raised the currency’s reference rate by the most in more than six months amid speculation U.S. monetary stimulus will spur faster gains. Volatility surged.
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China’s yuan advanced to a 19-year high after the central bank set a record reference rate for the currency amid signs capital inflows are gathering pace.
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South Korea’s won led gains in Asian currencies this week after economic growth exceeded forecasts. The Thai baht completed its worst five days in six years amid speculation of currency control measures.
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South Korea’s won led gains in Asian currencies this week after economic growth exceeded forecasts. The Thai baht completed its worst five days in seven years amid speculation of currency control measures.
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China’s yuan gained for a seventh week, the longest winning streak in five months, after the central bank set a record reference rate on signs capital inflows are on the rise.
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Thailand’s baht and Malaysia’s ringgit led Asian currency gains to the best week since January on speculation Japan’s monetary easing will increase the flow of funds into emerging-market assets.
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The yuan in Hong Kong completed the worst week since June as the People’s Bank of China set the daily exchange-rate fixing at the lowest level since Jan. 9.
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The yuan strengthened beyond 6.21 per dollar for the first time in 19 years after the central bank raised the currency’s reference rate and as a bailout deal for Cyprus spurred demand for emerging-market assets.
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China’s yuan rebounded from its biggest weekly loss since July after the government relaxed foreign investment rules and the central bank strengthened the daily fixing by the most in almost three weeks.