Determining the �fair value� of a currency is notoriously tricky. Some analysts look at a country's trade surplus or deficit; some at the local cost of goods or labor; and others at flows of investment capital.
The US dollar fell across the board late Friday in New York as the July non-farm payroll data came weaker than expected, turning market attention to the dovish elements of the 30 July policy statement by the Federal Reserve.
The value of the Chinese currency renminbi, or the yuan, strengthened 5 basis points to 6.1517 against the U.S. dollar in its central parity on Tuesday, according to the China Foreign Exchange Trading System.
The Chinese yuan is set to end the third straight month stronger in July, reversing almost a quarter of the central bank intervention-aided decline in the past three months, helped by stronger trade and growth numbers over June and July and increased ...