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Dollar strength weighs on yuan

CCTV.com

01-29-2015 00:26 BJT

To the currency market where the Chinese yuan continues its slide against the U.S. dollar despite the PBOC setting a higher midpoint rate versus Tuesday.

The yuan further weakened by 45-pips against the greenback in Wednesday trade to touch 6.248 per dollar. China's currency is allowed to fluctuate 2-percent from its midpoint rate each day. The currency has been under pressure since December from a strong dollar as we see a wave of easing from global central banks.

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