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Chinese Yuan Extends 14-month Highs
The Chinese Yuan moved 0.0267 points or 0.39% higher to fresh 14-month highs of 6.82039 against the US Dollar on Tuesday after the onshore rate was set at 6.8498. Investors pushed the US Dollar to fresh 28-month lows following the US Fed Reserve's historic monetary policy shift, focusing more on average inflation and higher employment while keeping benchmark rates lower for longer. On the data front, the Caixin China General Manufacturing PMI unexpectedly rose to 53.1 in August from 52.8 in the previous month, posting the fourth straight month of growth in the sector and the sharpest since the start of 2011.