Yuan higher

SHANGHAI: China’s yuan edged up on Friday, on track for its first weekly gain in three weeks, reflecting broad greenback weakness after a soft US jobs report pushed back expectations for Federal Reserve rate hikes.

At one point, onshore yuan strengthened 0.06 percent to 6.7790 per dollar — its strongest level since June 23 — before changing hands at 6.7815 as of 0325 GMT. If it finishes at the midday price level, it would have gained 0.24 percent for the week.