China’s yuan strengthens as trade surplus hits US$72 billion in November

China’s yuan strengthened against the US dollar on Wednesday, reaching its firmest level since May 2018, although analysts say depreciation risks are rising.In late session trading, the onshore yuan hit 6.3477 against the US dollar, gaining from 6.3515 in the morning session, while the offshore yuan traded at 6.3459 against the American currency.A lower yuan exchange rate figure means it takes fewer yuan to purchase one US dollar, indicating a stronger Chinese currency.Meanwhile, China’s…

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