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Forex

Yuan Hits Three-Year High Ahead of Xi-Trump Summit

Guavy AI Editorial Team
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China's yuan has strengthened to its strongest level in over three and a half years, reaching 6.6950 against the US dollar on Monday.

The move comes ahead of the meeting between Chinese President Xi Jinping and US President Donald Trump this week, with analysts suggesting that the central bank has eased its curb on currency appreciation.

US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng concluded talks in New York over the weekend, laying the groundwork for the summit.

The yuan's strength is a sign that policymakers in China feel comfortable allowing sustained but gradual currency appreciation, according to Goldman Sachs analysts.

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