Chinese yuan trades strongly in lead-up to US election and 18th congress

The yuan traded at the strong end of its permitted trading band yesterday ahead of the Communist Party's 18th congress and the US presidential election, but analysts said the currency's strength was not sustainable.

The yuan touched 6.2447 per US dollar in intra-day trading in Shanghai, exceeding the central bank's reference rate by 1 per cent. The spot rate of the yuan against the Hong Kong dollar was down 0.06 per cent at HK$1.2402. The rate hit a record high of HK$1.25 at the end of last month.

via Business feed http://www.scmp.com/business/economy/article/1076598/chinese-yuan-trades-strongly-lead-us-election-and-18th-congress