The offshore currency continues to appreciate, with official fixing also hitting its strongest level since May 2023
The same day, the People’s Bank of China set the yuan’s midpoint rate – also known as the daily fixing – at 6.9321 per US dollar, also the strongest since May 2023.
The currency has appreciated steadily against the US dollar in recent months, supported by easing trade tensions between China and the United States, the Federal Reserve’s rate cuts and policy volatility under US President Donald Trump.
