Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China. Photo: Reuters
China’s yuan soars above key level against US dollar on hopes that Trump considering ditching some tariffs
- Yuan surged back above key psychological level of 7 to the US dollar on reports that Donald Trump could agree to removing tariffs on China in phase one trade deal
- Market expectations for further yuan decline have completely evaporated, analysts say, amid surprise suggestion of more significant trade deal than expected
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China economy
Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China. Photo: Reuters
US trade representative Robert Lighthizer(left) and US Treasury secretary Steven Mnuchin (right) with China's Commerce Minister Zhong Shan during October’s trade talks in Washington. Photo: Bloomberg
China takes further steps to stabilise yuan to aid trade war deal with US$4.3 billion bill sale in Hong Kong
- Efforts by China to stabilise the yuan exchange rate may facilitate the signing of a phase one trade deal the United States, analysts say
- China will sell a total of 30 billion yuan (US$4.3 billion) in yuan-denominated securities in Hong Kong on Thursday
Topic |
China economy
US trade representative Robert Lighthizer(left) and US Treasury secretary Steven Mnuchin (right) with China's Commerce Minister Zhong Shan during October’s trade talks in Washington. Photo: Bloomberg