Yuan Stable After Services PMI Slides

The Chinese yuan was little changed today after the gauge of the services industries slipped a little last month. The drop was very small and did not affect the currency strongly.

China’s non-manufacturing Purchasing Managers’ Index fell from 56.3 in October to 56.0 in November. The data followed yesterday’s report that showed that the manufacturing PMI was stable. It was reported that the yuan became the second most-used currency in global trading, overtaking the euro in this role.

USD/CNY was at 6.0926 as of 11:18 GMT today after opening at 6.0929.

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