China's yuan hit a post-revaluation high versus the dollar for the second straight session on Thursday, as traders betting on a sustained appreciation of the Chinese currency trimmed US dollar holdings.
The yuan, which was revalued by 2.1 percent on July 21 to 8.11 per dollar, closed at 8.0709 per dollar versus 8.0725 on Wednesday. It has now gained in five successive sessions.
Analysts attributed the yuan's climb since Friday to market players betting that the Chinese currency's steady appreciation since the revaluation would accelerate next year. It could soon hit 8.0700 per dollar, traders said, given central bank's relatively more hands-off attitude in past months.
On Thursday the yuan firmed against the euro to close at 9.5624, versus 9.5826 on Wednesday. It strengthened also to close at 6.8466 per 100 Japanese yen, versus 6.8913.
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