China's yuan rises past 6.50 against the US dollar

[alp227]

Source: BBC News

China's currency, the yuan, strengthened past a key level against the US dollar on Friday, as part of wider efforts to contain inflation on the mainland.

The yuan broke past 6.50 against the dollar, a level not seen since 1993.

Traders and currency strategists believe the move is a sign that China's central bank is prepared to allow the currency to appreciate further.

A stronger currency means imported products become cheaper in China.

Read more: http://www.bbc.co.uk/news/13236480

[no_hypocrisy]

1. 4-3-2-1 . . . and Donald Trump holds a presser, announcing that he's "very proud" of himself

for making China devalue its currency with his solid, uncompromising rhetoric . . .


:sarcasm: