Reported about 9 hours ago
China's central bank is nudging the yuan higher, signaling a potential strategic shift towards a stronger exchange rate as strong export performance enhances economic prospects. The People's Bank of China raised the daily reference rate for the yuan, marking the most significant increase in nearly a year. This move reflects growing confidence in allowing currency appreciation amidst improved trade relations and a stabilizing economy. Analysts believe a strengthened yuan could bolster domestic consumption and investor confidence, helping to support trade discussions with the U.S.
Source: YAHOO