Yuan Advances to Strongest Level in Two Years, More Gains Seen

China’s trade surplus with U.S. will boost yuan: Scotiabank
Dollar has retreated 1.8% in four sessions since Tuesday

The image of former Chinese leader Mao Zedong is displayed on a one-hundred yuan banknote in an arranged photograph at the Bank of China Hong Kong Ltd. headquarters in Hong Kong, China, on Thursday, Nov. 12, 2015. The People's Bank of China's 2015 edition of the 100 renminbi banknote, with new anti-counterfeiting features, starts circulating today.
Photographer: Xaume Olleros/Bloomberg

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By Bloomberg News

January 15, 2018 at 3:35 AM UTC

Updated on

January 15, 2018 at 9:23 AM UTC

This article is for subscribers only.

China’s yuan climbed to its strongest since December 2015 on Monday, and analysts predict further upside given weakness in the dollar.

The onshore yuan rose as much as 0.81 percent to 6.4138 per dollar, after the People’s Bank of China strengthened the daily reference rate the most in three months and as the Bloomberg Dollar Spot Index fell for a fourth day. China’s currency was up 0.48 percent at 5:22 p.m. in Shanghai.