Yuan Hits 3-Year High as China Stocks Dip During Summit
The Chinese yuan reached a three-year high against the dollar as President Xi Jinping and President Donald Trump met in Beijing to discuss bilateral ties. Major stock indexes pulled back from recent peaks while investors awaited details on trade and technology agreements.
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China's yuan rose to a three-year high of 6.7858 per dollar as investors awaited details from the Trump-Xi summit. The currency has gained 3% against the United States dollar this year, driven by exports and a trade surplus. Market stability depends on whether both leaders establish a managed trade mechanism for non-sensitive goods.
