China's yuan briefly hits three-week low, set for monthly gain
China’s yuan briefly hit its lowest point in more than three weeks against the dollar on Thursday before it pared losses on upbeat domestic factory activity data. Onshore yuan slipped to a low of 6.8433 per dollar, its the weakest level since April 7. But it was changing hands at 6.8382 as of 0315 GMT and if it finishes the late night session at that level, it would have gained 0.73% for the month, its eighth monthly gain in nine months. Its offshore counterpart last fetched 6.8411 per dollar as of 0315 GMT. China’s financial markets will be closed for Labor Day holidays from Friday, and trading will resume next ...
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