Forex
Yuan Hits Highest Level Since February as Dollar Weakens
China's yuan has reached its highest level since February 2023, buoyed by a weaker US dollar and a firmer reference rate set by the country's central bank.
The offshore yuan rose to around 6.7530 against the dollar as of 1045GMT, while the onshore yuan traded near 6.7551 per dollar.
A decline in the dollar-yuan exchange rate indicates an appreciation of the Chinese currency.
The People's Bank of China set the yuan's daily midpoint at 6.7892 per dollar, its strongest fixing since February 2023.