USD/CNY Steady; Upside in Yuan Seen Limited

        0338 GMT [Dow Jones] The USD/CNY is largely steady after the dollar climbed against most of its rivals Monday. The USD/CNY is at 6.1192, compared with Monday's closing of 6.1196. Traders say gains in the Chinese yuan will be limited as the government has started pump priming to stimulate the economy. Meanwhile it's just a matter of time before the Fed raises interest rates. "Growth in China's international reserves will trend slower. The macro situation doesn't support yuan appreciation," says a trader at a local bank. He expects the USD/CNY to consolidate in range of 6.11-6.13 for the rest of the year. The People's Bank of China sets the USD/CNY central parity rate at 6.1413, up from Monday's 6.1377. Offshore, one-year USD/CNY NDFs are up at 6.2660/6.2680 from 6.2560/6.2580 late Monday. (rose.yu@dowjones.com)
        (END) Dow Jones Newswires
        November 10, 2014 22:38 ET (03:38 GMT)