FX.co ★ Offshore Yuan Hits Over 1-Month Low

The offshore yuan fell beyond 7.15 per dollar on Wednesday, reaching its lowest point in over a month due to a strengthening US dollar. The dollar surged as concerns grew regarding a possible US government shutdown, increasing investor anxiety and driving a higher demand for safe-haven assets. In terms of trade negotiations, China seems to be gaining an advantage in discussions with the United States, highlighted by the continued lack of Chinese soybean purchases even as the northern hemisphere's harvest season begins. Attention is now focused on the outcomes of the forthcoming meeting between President Trump and President Xi Jinping, set to take place during the APEC summit in South Korea from October 31 to November 1.