The Chinese yuan strengthened against the U.S. dollar in the Asian session on Friday.
Against the greenback, the yuan rose to a 9-day high of 7.3114 from a recent low of 7.3128. At yesterday’s close, the yuan was trading at 7.3155 against the greenback.
If the yuan extends its uptrend, it is likely to find resistance around the 7.29 area.
The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.