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Yuan Hits Multi-Year High Ahead of Trump-Xi Summit

China yuan strengthened to a multi-year high against the US dollar as the central bank eased currency curbs ahead of the presidential summit. Analysts note the move aims to foster stability for trade talks.

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A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. REUTERS/Athit Perawongmetha

China's yuan strengthened to a 3-1/2-year peak of 6.6950 per dollar during Monday morning trade as the central bank softened its currency curb ahead of a presidential summit. The move brings spot USD/CNH to its strongest level since January 2023.
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