The Chinese yuan pared the gains it posted in early Friday Asian trading against the euro towards the end of the session. The yuan thus fell from a new multi-week high of 8.9577 to 8.9896 by about 1:30 am ET. The near term support level for the Chinese currency is seen at 9.088. The euro-yuan pair closed Thursday's New York session at 8.9969.
The People's Bank of China has set today's central parity rate for the euro-yuan pair at 8.9610.
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