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Yuan nears 8 to dollar mark

The yuan is poised to ascend past the 8 to-the-dollar mark ahead of a United States Treasury review that may brand China a currency manipulator, Bloomberg reported. In the week to April 28 the yuan rose by 0.05% to 8.014 to the dollar. One-week dollar-yuan forward contracts suggest a 0.3% gain to 7.992 over the coming week, while one-year contracts valued the yuan at 7.678 to the dollar. The US Treasury is set to release its latest report on the exchange rate policies of overseas trading partners this week.

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