The Chinese yuan gained ground against the U.S. dollar in Asia on Wednesday.
The yuan hit a 2-day high of 6.1314 per dollar, compared to yesterday's closing value of 6.1395. On the upside, 6.12 is seen as the next resistance level for the yuan.
The People's Bank of China set today's central parity rate for the yuan at 6.1652 per dollar, compared to yesterday's reference rate of 6.1692. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1% from the level.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.