China’s offshore yuan hits strongest level in four years
China’s offshore yuan strengthened to its strongest level versus the dollar in four years amid expectations that this week’s US rate hike won’t end the yuan’s appreciation cycle.
China’s offshore yuan on Friday reached its strongest level against the dollar in four years, as traders bet this week’s US rate hike has not derailed the yuan’s appreciation cycle. 15% and was on track for a third straight weekly gain, as traders awaited further direction.