Yuan rises to 3-1/2-year high versus dollar, defying PBOC midpoint guidance
China’s yuan strengthened to a 3-1/2-year high against the dollar as US demand stayed subdued. USDCNY was at 6.7050 per dollar in early trades, despite a near-record weak-side gap in the PBOC’s daily midpoint guidance.
China's yuan strengthened to a 3-1/2-year high against the dollar on Monday, even as it moved against a near-record weak-side gap in the central bank's daily midpoint guidance and dollar demand stayed subdued. 7050 per dollar in early trades.