FX.co ★ Offshore Yuan Reaches Over 8-Month High

The offshore yuan appreciated beyond 7.14 per dollar on Thursday, building on gains from the prior session and achieving its strongest position since November 2024. This rise comes amid growing optimism surrounding US-China trade talks. Earlier in the week, US Treasury Secretary Scott Bessent announced that officials from both nations are scheduled to convene in Stockholm next week for a third round of high-level negotiations, which may potentially extend the current trade truce set to lapse on August 12. Market sentiment further improved due to a series of regional trade agreements that have provided relief to several Asian economies—most notably Japan, Indonesia, and the Philippines—while others remain on the periphery. Additionally, President Donald Trump suggested a possible visit to China, indicating a move towards stabilizing bilateral trade relations. Investors are keenly observing this weekend’s industrial profits report for insights into how Chinese companies are managing ongoing tariff challenges.