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Валутна търговия - FOREX - АРХИВ
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SHANGHAI (Dow Jones)--China's yuan closed down against the U.S. dollar
Friday, pulling back after hitting a new high since it was revalued.
In the spot market, the U.S. dollar ended at CNY8.0910, up from CNY8.0881
Thursday. It reached CNY8.0860 mid-morning, the dollar's lowest point against
the yuan since the Chinese currency was revalued 2.1% on July 21.
The dollar traded between CNY8.0860 and CNY8.0920 during the session, a
relatively volatile range of 60 pips, traders said.
The pair's trading range also reached 60 pips in early August and early
September, and exceeded that only once after the yuan was revalued, at 76 pips
on Sep. 13.
"We have no way of saying for sure, but it seems today's movement in the rate
is being mostly decided by market forces," said a Shanghai-based dealer at a
non-Chinese bank.
The central bank has been emphasizing the role of market forces in setting
the exchange rate. People's Bank of China Governor Zhou Xiaochuan said late
August that "over time market forces will play a more and more important role"
in setting the rate.
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