Yuan Hits Seven-Year High, Signaling Market Optimism

The Chinese yuan surpasses seven per dollar for the first time since September 2024, gaining market confidence as traders bet on a slow appreciation. The currency, set for its best year against the dollar in five years, is driven by a weak US dollar, stock market rebound, and calmer geopolitical climate. Despite being twenty-five percent undervalued, analysts predict the yuan will hold between six point nine five and seven per dollar through the first half of next year, indicating growing optimism.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.