Currency market action focused on developments with the Chinese yuan and the Hong Kong dollar.

A file picture illustration shows a U.S. one dollar and Chinese 10 Yuan bank notes, taken in Warsaw January 26, 2011. REUTERS/Kacper Pempel/Files

Yuan hits two-month high after China central bank liquidity injection

The yuan hit a two-month high on Thursday after the People’s Bank of China injected liquidity into the market, while the Hong Kong dollar traded strongly on Thursday after a senior Hong Kong financial official reiterated the city’s determination to defend the local currency.

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