The yuan reached a one-week high at 7.2905 per dollar as the greenback’s sluggish momentum points to a correction.
Official data showed China’s economy grew 1.3% in the third quarter, accelerating from 0.5% in the previous quarter and topping market forecasts for an increase of 1%. Industrial output rose and unemployment fell. On Tuesday US yields had shot sharply higher after data showed retail sales increased strongly, which had helped the dollar pile pressure on the low-yielding Japanese yen.
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