Yuan Flat After Manufacturing PMI Slips

The Chinese yuan was little changed against the US dollar today after data showed that Chinese manufacturing sector expanded with slower a pace than was predicted by analysts.

The HSBC Flash China Manufacturing Purchasing Managers’ Index eased from 50.8 in November to 50.5 in December. Forecasters promised an increase to 51.0. The gauge remained above the neutral 50.0 level, still indicating expansion of the sector, but at slower rate.

USD/CNY rose a little from 6.0715 to 6.0717 as of 16:32 GMT, while intraday it was as high as 6.0732.

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