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SHANGHAI, Sept 18 (Reuters) — China’s offshore yuan on Friday hit the 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. In the onshore market, the yuan strengthened about 0.15% and is on track for its third straight weekly gain, as
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.
USDCNH strengthened to 6.6956 per dollar, the strongest level for China’s offshore yuan since July 2022.