SHANGHAI -- The yuan has risen against the U.S. dollar as overseas investors grow hopeful of China's economic recovery and seize on its relatively high interest rates, prompting the Chinese central bank to step in Monday to put the brakes on the rapid appreciation.
The currency touched 6.69 per dollar, an 18-month high, on Friday. The surge reflected in part the currency's advance in the offshore market over the eight-day National Day break.
