Chinese Renminbi Hits 17-Year High vs Dollar, Appreciation Accelerating

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Despite repeated rhetoric from Beijing that the renminbi’s rise would be slow and orderly, this snowball appears to be gaining real momentum, as evidenced its past month’s performance versus the buck. Beijing is now admitting that curbing inflation is their top priority: China’s yuan traded near a 17-year high after the central bank reiterated its […]

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