Market participants widely believe the 98-level could act as the ceiling for the index, which officially publishes on a weekly and monthly basis. Suggestions from two Fed officials that a period of high inflation in the United States may last longer than anticipated lifted the greenback on Wednesday. Several traders and analysts said the official fixing came in much weaker than their forecasts. Thursday's midpoint was 67 pips weaker than Reuters' estimate of 6.4231. A too high reading could suggest China might be suffering a trade disadvantage against its peers.
Trade between China and India is expected to touch $20 bn this year.
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Trade between China and India is expected to touch $20 bn this year .
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