Yuan gains against dollar

SHANGHAI: China’s yuan strengthened against the US dollar on Friday, supported by a steady domestic stock market and a softer greenback ahead of the closely watched US non-farm payrolls report due later in the day.

China stocks recovered partially on Friday from their steepest drop in nearly five months in the previous session, as investors reassessed concerns about potential regulatory curbs on market speculation that were stoked by a media report.

Meanwhile, the dollar mostly held its ground on Friday after an overnight decline, as bond markets stabilised and traders awaited key US jobs data expected to firm up the case for an interest rate cut by the Federal Reserve.