Offshore Yuan Nears Six-Week High

2025-10-28 03:10 By Joshua Ferrer 1 min. read

The offshore yuan climbed to around 7.09 per dollar on Tuesday, approaching its highest level in six weeks, supported by firmer central bank guidance and optimism ahead of a key meeting between Chinese and US leaders later this week.

Over the weekend, top economic officials from both countries finalized a framework for President Trump and Chinese leader Xi Jinping to decide on during their meeting in South Korea on Thursday.

Trump expressed confidence an agreement would be reached, highlighting recent trade and critical minerals deals with Southeast Asian nations.

A deal could ease tariffs and Chinese export controls, calming investor concerns over the world’s two largest economies.

The yuan was also lifted by the PBOC, which set the midpoint at 7.0856 per dollar, its strongest since mid-October and above market forecasts, signaling continued efforts to guide the currency higher.

Markets now turn to upcoming PMI releases, with official data due this week and private surveys next week.



News Stream
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