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10.11.202603:07:19UTC+00Offshore Yuan Holds Firm

The offshore yuan traded steadily near 6.66 per dollar on Tuesday, supported by strong external trade data as China’s cumulative trade surplus for the year climbed past $1 trillion for only the second time on record. Exports surged 35.2% year-on-year to $412.33 billion in October 2026, underpinned by sustained global demand for AI-related technology products. Imports also posted robust gains, jumping 41.6% to $307.05 billion—the fastest annual increase since May 2021.

Over the first ten months of the year, exports rose 22.7% and imports increased 29.0%, lifting the trade surplus to $1.043 trillion and setting up the full-year figure to surpass last year’s record $1.2 trillion. The yuan also benefited from a weaker US dollar, as markets positioned ahead of October US CPI data, which are expected to show easing headline and core inflation alongside more stable energy prices.

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