China Sets Yuan Fixing Stronger Than 7 for First Time Since 2023

China’s central bank set the yuan’s daily reference rate stronger than the closely watched 7-per-dollar level for the first time in over two years, in the latest sign of policymakers’...

By Charlie Zhu, Wenjin Lv, Iris Ouyang · Bloomberg Markets

China’s central bank set the yuan’s daily reference rate stronger than the closely watched 7-per-dollar level for the first time in over two years, in the latest sign of policymakers’ intention to allow further appreciation in the currency.