The yuan rose for a second day after China's central bank raised the fixed exchange rate for the first time in two weeks
People's Bank of China will withdraw from interference or tolerate any excessive weakness of the yuan, says Koon How Heng, a currency strategist at Credit Suisse AG Singapore.
Credit Suisse Private Bank reduced its quarterly forecast for the yuan to 6.55 from 6.4 per dollar, and lowered its 12-month forecast to 6.8 from 6.6, because the prospect of export of capital, according to Heng.
E.Dimitrov JrTrader
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