Chinese Yuan Logs Biggest Gain In 2 1/2 Years Against Dollar

The Chinese yuan last week scored its biggest weekly jump since December 2011, finishing at 6.2107 to the dollar, a gain of 0.6 percent. The jump may indicate an end to the People's Bank of China's three-month weakening campaign and followed evidence that China's economy is rebounding, the Wall Street Journal reported. The central bank had orchestrated a 3 percent depreciation earlier in the year to boost exports.