SKN | Chinese Yuan Hits Four-Year High as Markets Anticipate Key Policy Meetings
Bonds & Foreign Exchange Yuan Strengthens Ahead of Policy Meetings China’s yuan reached a fresh four-year high against the US dollar on Monday, extending its gains as weaker oil prices and lower US Treasury yields weighed on the greenback. The onshore yuan touched 6.6682 per dollar during trading, its strongest level since June 2022, before last trading at 6.6691. If the currency maintained its gains through the late-night close, it would record an eighth consecutive session of appreciation, its longest winning streak since May. The offshore yuan also strengthened, trading at 6.6688 per dollar, up approximately 0.01% during Asian trading. The currency’s advance comes ahead of several important policy meetings, with investors assessing the outlook for global interest rates and China’s economic policy direction. […]