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Chart of the Day: Against Yuan

The Chinese yuan ended the past year with a depreciation of almost 7 percent against the dollar. And this chart from Bloomberg shows that the demand for the dollar remains high across the forward curve.

Currently, the People’s Bank of China (PBoC) is defending the 7 per dollar level but that level is likely to get breached soon.

The material has been provided by InstaForex Company – www.instaforex.com