The offshore yuan weakened to around 6.71 per dollar on Friday, heading for weekly losses as traders assessed the outcome of the Trump–Xi summit in Washington. Artificial intelligence was a central focus of Thursday’s White House meeting, with both leaders examining how to manage competition in the rapidly evolving sector. Before the talks, Trump reaffirmed his opposition to tighter AI regulations, while Xi emphasized that both countries have the “capability and responsibility” to ensure the technology remains under human control.
In a separate development, Xi called on the US to clearly oppose Taiwan independence, marking his first public appeal for Trump to revisit Washington’s longstanding position on the self-governed island. The White House has yet to release an official readout of the meeting, leaving Trump’s response uncertain. Externally, the yuan also faced pressure from a stronger US dollar, as markets priced in roughly a 67% probability of a Federal Reserve rate hike in October.
