Yuan almost flat

10 Apr, 2013

China's yuan closed little changed on Tuesday after the central bank set its daily midpoint virtually flat, strengthening expectations that authorities will not guide the currency sharply weaker in response to monetary easing by Japan. The People's Bank of China (PBOC) maintained its usual practice of setting its midpoint stronger in response to a fall in the dollar's value against global currencies overnight, but the change on Tuesday was marginal at only 0.02 percent.

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