Business
CHINESE YUAN HITS FOUR-YEAR HIGH AS GLOBAL MARKETS BRACE FOR MAJOR CENTRAL BANK DECISIONS
China’s yuan strengthened to 6.6682 per U.S. dollar on October 26, its strongest level since June 2022, supported by softer oil prices, falling U.S. Treasury yields and broader dollar weakness. The People’s Bank of China set its daily midpoint at 6.7162, the strongest fixing since February 2023, but weaker than market expectations, suggesting authorities want appreciation to continue gradually rather than accelerate sharply. Investors are now awaiting policy decisions from the U.S. Federal Reserve, Bank of Japan and European Central Bank, while China’s Communist Party fifth plenum is being watched for new economic-policy signals.
BigV•10h ago•1 min read