Yuan Weakens as Manufacturing PMI Falls

The Chinese yuan weakened today as a private indicator of nation’s manufacturing fell more than was anticipated. The gauge was at the neutral no-growth level.

The HSBC Flash China Manufacturing Purchasing Managers’ Index fell from 50.4 in October to 50.0 in November. It was the lowest level in six months. Analysts predicted a reading in the neighborhood of 50.0. A reading above 50.0 indicates growth, below indicates decline.

USD/CNY rose 0.08 percent to 6.1261 as of 10:50 GMT today.

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