FXWire Pro Headline | August 8 2011 5:41 EDT
Yuan hits a record high Vs dollar, at 6.4268 in early trade
News:
- Spot yuan strikes a record high of 6.4268 against the dollar on Monday, stronger than Friday's close of 6.4404
- PBOC fixed the yuan's mid-point at an all-time high of 6.4305 against the dollar, up 0.2 pct, biggest gain since mid-November
- Offshore, benchmark one-year dollar/yuan NDFs were bid at 6.3730 at midday, weaker than 6.3830 at the previous day's close
- Traders expect the pace of yuan gains to slow as global commodity prices, the benchmark Reuters Jefferies CRB index , slumped more than 11 pct since early May