Global Market: Yuan strengthens as dollar retreats; China pushes back against undervaluation claims
The Chinese yuan strengthened against the US dollar as the greenback retreated from an 18-month high. Beijing defended its currency policy amid European Union trade negotiations, rejecting undervaluation claims. Supported by strong exports and foreign capital inflows, the yuan has gained 4.4% this year, with authorities favouring stability and gradual appreciation.
Key Takeaways
- The Chinese yuan strengthened against the US dollar as the greenback retreated from an 18-month high.
- Beijing defended its currency policy amid European Union trade negotiations, rejecting undervaluation claims.
- Supported by strong exports and foreign capital inflows, the yuan has gained 4.4% this year, with authorities favouring stability and gradual appreciation.
The Chinese yuan strengthened against the US dollar as the greenback retreated from an 18-month high. Beijing defended its currency policy amid European Union trade negotiations, rejecting undervaluation claims. Supported by strong exports and foreign capital inflows, the yuan has gained 4.4% this year, with authorities favouring stability and gradual appreciation.
Original Publisher Attribution
This summary was curated from Economic Times.