The USD/CNY rises after the central bank set the central parity higher, tracking the dollar's strength against the yen. The pair is at 6.2276 vs 6.2252 late Wednesday in Asia. The PBOC set Thursday's central parity at 6.2905 vs Wednesday's 6.2881. The yuan hit the 1% daily upper limit for the 13th consecutive session and the market remains heavily biased towards the CNY buy side, says a Shanghai-based foreign bank trader. Offshore, one-year USD/CNY NDFs are trading at 6.3235/6.3310 vs 6.3208/6.3273 late Wednesday in Asia.
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