SHANGHAI: China's yuan inched up against the dollar on Thursday, although trade was thin as market participants awaited global policy indications for clues on which way the currency was likely to head.
"The market was yet to figure out a clear direction," said a trader at a Chinese bank, adding many investors were waiting for the next catalyst.
Particular focus is on US jobs data, comments from the Federal Reserve on possible timing of tapering at the annual Jackson Hole policy symposium later this month or China's policy stance at its monthly benchmark lending rate fixing on Aug. 20. The onshore yuan opened at 6.4671 per dollar and was changing hands at 6.4640 at midday.
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