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29 April 2017 21:22 (South Africa)

Yuan rises after China promises flexibility

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

On the weekend the People's Bank of China said it would allow the yuan greater flexibility than over the last two years or so, when the currency had been unofficially pegged to the dollar. In Monday morning trade the yuan rose to 6.8110 a dollar, its strongest level since September 2008, and its strongest intraday gain since October of that year, indicating that the central bank is already allowing the currency greater freedom.  Read more: Reuters

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

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