China’s yuan reached its strongest level against the US dollar in more than four years, supported by exporter dollar sales, robust exports and a weaker greenback. The currency has gained about 5% this year, while the PBOC’s stronger daily fixing suggests policymakers are comfortable with its appreciation, though the pace may moderate.
China’s yuan reached its strongest level against the US dollar in more than four years, supported by exporter dollar sales, robust exports and a weaker greenback. The currency has gained about 5% this year, while the PBOC’s stronger daily fixing suggests policymakers are comfortable with its appreciation, though the pace may moderate.
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