The Chinese yuan’s central parity rate against the US dollar rose 42 basis points on 7 September to 6.5269, for the ninth consecutive trading day of increase, as well as the longest run of gains since the start of 2011.
According to market observers the continued weak performance of the US Dollar Index since the start of the month is the key driver of gains in the Chinese yuan, with further room for increase prior to the year’s end given the low likelihood of a near-term rebound in the greenback.
