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Forex

Yuan Sinks Ahead of Trump-Xi Summit

Guavy AI Editorial Team
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USD
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The offshore yuan continued its decline on Wednesday, reaching around 6.70 per dollar as market sentiment was weighed down by the upcoming Trump-Xi summit and a firmer US dollar.

The greenback remained supported after Federal Reserve officials made hawkish remarks, reinforcing expectations of another interest-rate hike later this year.

Caution ahead of the summit also contributed to pressure on the yuan, as preliminary talks failed to produce an agreement to extend the tariff truce due to expire in November.

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