Yuan Gains on Dollar After China Releases Set of Solid Economic Indicators

The Chinese yuan gained in the US dollar today following the release of positive macroeconomic data in China.

The National Bureau of Statistics of China reported that industrial production grew by 6.1%, fixed asset investment rose by 7.2%, and retail sales increased by 10.2% in November on year-on-year basis. All indicators were within expectations. The data suggested that the Chinese economy retains solid growth.

USD/CNY fell by 0.16% to 6.6087 as of 12:00 GMT today.

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