The offshore yuan hovered around 6.89 per USD on Tuesday, struggling to recover from the one‑month low hit last week, as markets weighed US President Trump’s comments on the possible duration of the Middle East conflict, while upbeat domestic trade data lent some support.
Official figures showed that China’s trade surplus for January–February widened to a record USD 213 billion, beating expectations as exports and imports surged 21.8% and 19.8%, respectively.
At the same time, Trump indicated that the war with Iran may be entering its final phase and hinted at potential moves to ease pressure on global energy markets. G7 finance ministers also stated they are prepared to release crude from strategic reserves if needed, though no concrete measures have been taken so far, leaving investors uncertain about whether any eventual action would be sufficient to stabilize oil prices and mitigate geopolitical risks.
Even so, China is generally expected to withstand oil price shocks better than other major economies, thanks to its large crude stockpiles and diversified energy mix.
