Yuan heads for key level against dollar

The yuan could breach another key psychological level this year to trade at 6 to the US dollar as the mainland authorities seem inclined to ease the reins on the currency further.

Spot yuan closed yesterday at 6.1287 per dollar in Shanghai. It has been hitting 19-year highs frequently in the past few months and has strengthened about 1.7 per cent against the dollar since April.

via Business feed http://www.scmp.com/business/economy/article/1253661/yuan-heads-key-level-against-dollar