China’s Yuan Climbs Past Key Levels as Trade Tensions Ease
Analysts see yuan as strong as 6.8 per dollar in first quarter
U.S., China expected to sign initial trade deal Wednesday
With a trade deal nearly signed and China’s economy on steadier footing, the path for China’s yuan to strengthen is now wide open.
The currency on Tuesday touched its highest since July in the offshore market, after punching through 6.9 per dollar for the first time in more than five months on Monday. The latest leg up came from news of the Trump administration removing China from its designation as a currency manipulator.