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Chinese Yuan Rises To 4-day High Against U.S. Dollar
(RTTNews) - The Chinese yuan strengthened against the U.S. dollar in the Asian session on Monday.
In economic news, data from Caixin showed that the manufacturing sector in China continued to expand in June, albeit at a slower pace, with a manufacturing PMI score of 50.5.
That's down from 50.9 in May although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Against the greenback, the yuan rose to a 4-day high of 7.2328 from Friday's closing value of 7.2511.
If the yuan extends its uptrend, it is likely to find resistance around the 7.00 area.
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