Yuan jumps most in 5 weeks as global optimism rises

The yuan advanced by the most in more than five weeks after the People's Bank of China raised the currency's reference rate for the first time in three days amid global growth optimism. The People's Bank of China strengthened the daily yuan fixing by 0.03 percent to 6.2804 per dollar. It drained funds from the financial system on Tuesday via repurchase agreements for the first time in eight months. A report on Tuesday showed economic sentiment in Germany increased to the highest level in almost three years.

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