empty
 
 

08.04.202601:49:24UTC+00Offshore Yuan Rallies to Over 3-Year High

The offshore yuan strengthened to around 6.82 per dollar on Wednesday, advancing for a fourth straight session and marking its highest level since February 2023. The move was largely driven by a weaker US dollar following news of a ceasefire agreement.

President Donald Trump announced that the United States and Iran had reached a two-week ceasefire deal, narrowly avoiding what he had earlier warned could become an attack with catastrophic consequences for the region. Shortly after the announcement, Iranian Foreign Minister Seyed Abbas Araghchi said that access to the Strait of Hormuz would be possible through coordination with Iran’s Armed Forces.

On the domestic front, investors are now focused on China’s upcoming inflation data, due later this week. Analysts expect a modest uptick in annual consumer prices, while producer prices are forecast to post their first year-on-year increase since September 2022.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback