Renminbi touches record high.

 After declining earlier this year, China's yuan has continued its march higher, hitting a record 6.2856 to the dollar due to strong corporate demand and banks avoiding short positions ahead of an upcoming week-long holiday. The rise in the renminbi comes after the currency sank to a 2012 intra-day low of 6.3967 in July, since when it has benefited from the dollar's retreat in the global markets