Growing power of the yuan

The yuan has continued its strong run, rising to the highest-ever level against the US dollar on Friday, ahead of talks between President Xi Jinping and President Barack Obama.

The People's Bank of China guided the yuan upwards early on Friday, nudging its reference rate up 0.19 per cent from Thursday and marking the strongest yuan reference rate on record.

via Business feed http://www.scmp.com/business/money/investment-products/article/1257273/growing-power-yuan