The Chinese yuan erased its early losses against the U.S. dollar in Asian deals on Wednesday. The yuan that declined to a 5-day low of 6.1621 against the greenback trimmed its early losses and was trading at 6.1596. The pair ended yesterday's trading at 6.1580. The People's Bank of China set today's central parity rate for the yuan at 6.1533 per dollar, compared to yesterday's reference rate of 6.1517. The Chinese central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level. China will release July figures for industrial production, retail sales and fixed asset investment shortly. Industrial output is expected to add 9.1 percent on year, slowing from 9.2 percent in June. Retail sales are tipped to climb an annual 12.5 percent, up from 12.4 percent in the previous month. The material has been provided by InstaForex Company - www.instaforex.com
https://www.instaforex.com/forex-news/1670925.html?x=FFCP
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