Forex – Yuan Little Changed After Disappointing China GDP Data

0 – The yuan was little changed on Friday after official data showed China’s third quarter GDP growth slowed more than expected.

The USD/CNY pair fell 0.1% to 6.9376 by 1:13 AM ET (05:13 GMT).

China’s economic growth slowed to 6.5% year-on-year, compared with the general consensus of a 6.6% growth. It was the weakest pace since the first quarter of 2009.

On a quarterly basis, GDP grew 1.6% in the third quarter, in line with expectations but slower than the 1.8% growth in April-June.

Reports said Beijing’s official growth target for 2018 is around 6.5%.

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