China’s yuan advanced to a three-year high in onshore markets as the central bank signalled that it’s comfortable with a recent rally by setting a strong daily reference rate. The currency gained as much as 0.3% to 6.3913 per dollar in onshore markets, the highest since June 2018, while rising 0.4% offshore. The People’s Bank of China set its fixing at 6.4099 per dollar, in line with the average estimate in a Bloomberg survey of traders and analysts. The reference rate helped dispel concerns that the PBoC will seek to slow a yuan rally that has made the currency the best performer in Asia this year. Traders are closely watching the central bank after recent mixed messages from officials ove
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