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Chinese yuan surged to strongest since July 2018 amid dollar weakness, recovery outlook

Last updated on October 22, 2020

Chinese yuan strengthened sharply against the US dollar to hit its strongest level since July 2018 on Wednesday, boosted by firmer fixing set by the central bank, softer greenback and recent data pointing to sustained recovery in the world's second largest economy.

The onshore yuan opened at 6.6699 per dollar and ended its domestic trading session at 6.6575, the strongest such close since July, 2018. Prior to market opening, the People's Bank of . . .

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