The Chinese suffered some poor data early yesterday as their Consumer Price Index came out at 0.2% lower than expected. However, the currency was relatively unaffected by this, and maintained its level throughout the day.
In other news, the Yuan took another step towards becoming more of a global currency as it became directly tradable with the Swiss Franc. The Yuan will now be able to fluctuate 5% from the daily fixing. These are all measures that will help the Yuan achieve reserve currency status with the International Monetary Fund.
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