Offshore Yuan Retreats as Trump-Xi Talks Eyed

2026-05-15 01:18 By Czyrill Jean Coloma 1 min. read

The offshore yuan weakened to around 6.79 per dollar on Friday, retreating from an over-three-year high in the previous session, as sentiment turned cautious over Taiwan-related tensions during the Trump-Xi summit.

President Xi warned that Taiwan could become a flashpoint for “clashes” between the world’s two largest economies, calling the situation “highly dangerous,” while reiterating Beijing’s opposition to US arms sales to Taiwan and Taiwanese independence.

Still, the summit showed signs of easing tensions.

The White House said both sides discussed expanding Chinese purchases of US agricultural products and oil, while agreeing that the Strait of Hormuz should remain open.

US Trade Representative Jamieson Greer also said both sides appeared willing to extend the current trade truce if progress continues.

The meeting entered its second day with cautious optimism, as traders positioned for a positive outcome.

For the week, the offshore yuan remained on track for a steady week.



News Stream
Offshore Yuan Retreats as Trump-Xi Talks Eyed
The offshore yuan weakened to around 6.79 per dollar on Friday, retreating from an over-three-year high in the previous session, as sentiment turned cautious over Taiwan-related tensions during the Trump-Xi summit. President Xi warned that Taiwan could become a flashpoint for “clashes” between the world’s two largest economies, calling the situation “highly dangerous,” while reiterating Beijing’s opposition to US arms sales to Taiwan and Taiwanese independence. Still, the summit showed signs of easing tensions. The White House said both sides discussed expanding Chinese purchases of US agricultural products and oil, while agreeing that the Strait of Hormuz should remain open. US Trade Representative Jamieson Greer also said both sides appeared willing to extend the current trade truce if progress continues. The meeting entered its second day with cautious optimism, as traders positioned for a positive outcome. For the week, the offshore yuan remained on track for a steady week.
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The offshore yuan traded higher around 6.78 per dollar on Thursday, remaining at its strongest level since February 2023 as investors closely watched developments in the summit between US President Donald Trump and Chinese President Xi Jinping. Taiwan has quickly emerged as the most sensitive issue in the Trump-Xi talks so far, with Xi warning that any mismanagement of the issue could risk triggering conflict. Beyond Taiwan, the two leaders also discussed major global flashpoints, including tensions in the Middle East, the war in Ukraine, and the situation on the Korean Peninsula. Meanwhile, Xi also met with leading US business executives, pledging that China would continue opening its economy while outlining a vision for stable ties with Washington. Trump has no further public events on his schedule before tonight’s state banquet, which is expected to provide another closely watched display of diplomacy between the two leaders.
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