Chinese yuan sets new multi-year high against euro

Against the European currency, the Chinese yuan edged higher to 9.7276 during early Asian deals on Friday. This set the highest point for the yuan since April 2006.

 If the yuan strengthens further it may likely target the 9.74 level. The euro-yuan pair that closed Thursday's North American session at 9.7909 is currently trading at 9.7732. People's Bank of China today set the central parity rate for euro-yuan pair at 9.7692.  Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved