The Chinese yuan gained today even though macroeconomic indicators were negative for the currency. Consumer inflation slowed unexpectedly and producer prices continued to fall.
The Consumer Price Index rose 1.6 percent in November from a year ago while analysts have expected inflation to stay at the previous month’s level of 1.4 percent. Consumer prices fell 0.2 percent month-on-month. The Producer Price Index dropped 2.7 percent last month from the same month of the previous year after falling 2.2 percent in October.
USD/CNY fell from 6.1860 to 6.1768 as of 12:58 GMT today.
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