China's Yuan Climbs Past 7 Per Dollar as PBOC Caves in to Bulls [Yahoo! Finance]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Yahoo! Finance
The offshore yuan gained as much as 0.2% to 6.9964 per dollar on Thursday. The move came after the People's Bank of China strengthened its daily reference rate to the the strongest level since September 2024. Most Read from Bloomberg New York's Congestion Pricing Is Working. Five Charts Show How As Zipcar Leaves London, Car-Share Boosters Are Looking for a New Ride When It Comes to US Transportation, 2025 Had Some Wins, Too The yuan is headed for its best year in half a decade against the dollar, thanks to a slump in the US currency, inflows chasing China's stock-market rebound and easing geopolitical tensions. Beijing has been guiding the yuan stronger at a carefully orchestrated pace with its fixing in the past few months as it seeks to allow currency appreciation without triggering foreign-exchange volatility. “The yuan has been bolstered by weakness in the dollar and seasonal foreign-exchange conversion by exporters,” said Wang Qing, chief macro analyst at Golden Cred
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