Yuan hits high against USD

Biejing-China (Dec 4)  The Chinese currency renminbi, or yuan, strengthened 52 basis points to reach a record high of 6.13 against the US dollar on Wednesday, according to the China Foreign Exchange Trading System.

The US dollar dropped against other major currencies overnight. Investors remain cautious before Friday's US non-farm payrolls data for November, which is seen hinged on whether the Fed does start reducing its $85 billion in monthly bond purchases.

Xinhua-Global Times