China's yuan firms vs dollar, focus on Yellen's Jackson Hole speech

China's yuan firmed on Thursday, underpinned by a modest pullback in the dollar index in Asian morning trade though activity remained subdued.

Trading was cautious ahead of the global central bankers' gathering in Jackson Hole, Wyoming, where Federal Reserve Chair Janet Yellen's speech on Friday may offer fresh clues on US monetary policy outlook.

"Signals on US monetary policy trend appear quite mixed of late," said a trader at a European bank in Shanghai.

"So (Chinese) banks choose to take a wait-and-see attitude, not to quote yuan/dollar rates aggressively. As such, the yuan's movements this morning were quite insignificant."Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg