China yuan breaks through another technical milestone

China’s currency the Yuan broke through 7.2 against the US dollar

the yuan broke through 7.3 Jan 1, 2008 and past 7.4 Nov 25, 2007.

Chinese yuan at 7.196 to the USD on Jan 28, 2008

The yuan finished at a new high of 7.1963 to the US dollar on the over-the-counter (OTC) market, following a record high of 7.2102 recorded on Friday.

With more US interest rate cuts it seems likely that this pace of appreciation will continue for several more months.

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