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Yuan steady despite dollar strength during China's Golden Week holiday
SHANGHAI: China’s onshore yuan was steady on Thursday as mainland markets reopened after a week-long holiday during which the Chinese currency strengthened offshore despite a strong dollar. The yuan has gained nearly 9% against the dollar since late 2024 in a seven-quarter rising streak buoyed by robust exports and policies designed to attract foreign inflows. Despite the dollar index climbing higher during the holiday, “the offshore yuan remained resilient, suggesting the yuan’s appreciation trend has not ended,” Nanhua Futures said in a note. The onshore yuan changed hands at 6.7030 per doll...
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