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China’s Yuan at Strongest Since July Amid Trade Deal Optimism
China’s yuan strengthened to a five-month high, punching past 6.9 per dollar ahead of this week’s planned trade-deal signing with the U.S. The currency rose as much as 0.32% to 6.8968 versus the greenback in the onshore market on Monday, the strongest since July 31. The offshore rate gained 0.27% to 6.8963. China’s economy has shown signs of recovery in recent months as global demand steadies and trade tensions ease, boosting investor sentiment. The U.S. and China are scheduled to sign their “phase one” trade deal on Wednesday. Domestic stimulus efforts and expectations for further monetary easing are also ... (full story)