FX.co ★ Offshore Yuan End 4-Session Winning Streak

The offshore yuan edged closer to 7.17 per dollar on Wednesday, ending a four-day upward trend. This shift coincides with investor optimism about China's financial initiatives being dampened by the ongoing Middle Eastern conflict. Recently, Beijing introduced new guidelines designed to boost domestic consumption through financial mechanisms, aiming to bolster employment, elevate household income, and drive overall economic growth. All eyes are now on the forthcoming July Politburo meeting, where further economic stimulus measures might be revealed. In parallel, the People's Bank of China injected CNY 300 billion into the banking system on June 25 through a one-year lending facility to ensure adequate liquidity. On the international stage, U.S. President Donald Trump accused both Israel and Iran of breaching a newly established ceasefire, notably criticizing Israel for significant military actions against Iran. Earlier, Iran launched a missile strike resulting in four casualties.