The Chinese yuan was up 0.07% at 6.551. Earlier, the Chinese currency strengthened to a 17-year high against the dollar, reaching 6.5552 on chatter that China will be hiking interest rates and letting the yuan appreciate in order to cool inflation. The WisdomTree Dreyfus Chinese Yuan Fund ( CYB) was flat at $25.34.
NEW YORK (TheStreet) -- Emerging market currencies were on the rebound Tuesday morning as risk appetite returned on better clarity of Japan's nuclear reactor situation and central banks around the world coordinated efforts to suppress the yen's rise.
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