China’s Yuan Set for Highest Close Since June on Xi, Biden Call
- Currency could exit narrow trading range held since June
- Xi says ties between two countries should return to normal
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China’s yuan is headed for its strongest close in nearly three months, as a call between President Xi Jinping and his U.S. counterpart raised hopes of improved relations between the two nations.
The Chinese currency rose as much as 0.3% to 6.4375 per dollar, set for the highest closing level since June 16. Plans to allow investments for private wealth between Hong Kong and mega-cities in China’s southern region from next month also boosted the yuan.