China started a net settlement trial program for over-the-counter yuan trading today to help spur activity in the local currency market.

The China Foreign Exchange Trade System will provide the service to 21 market makers for yuan trades with the U.S. dollar, the euro, the Hong Kong dollar, the Japanese yen, and the British pound, according to a statement published today on its Web site.  Read more about the  yuan…

Against its European counterpart, the Chinese currency hit as low as 9.5579 during Friday’s early Asian trading. This set a 3-day low for the yuan. Read more about the yuan…