China In-Focus — Yuan eases; Asian giant’s May exports and imports recovering; US-listed Chinese technology stocks rise

Tue, 2022-06-07 11:38

BEIJING: China’s yuan eased from a one-month high against the dollar on Tuesday, pressured by broad strength in the greenback, while some investors gauged the pace of economic recovery after Shanghai lifted its COVID-19 lockdown.

Prior to market opening, the People’s Bank of China set the midpoint at 6.6649 per dollar, 42 pips firmer than the previous fix 6.6691.

In the spot market, the onshore yuan eased from a month high of 6.6391 per dollar hit on Monday and was changing hands at 6.6650 by midday, 106 pips weaker than the previous late session close.

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