Jan 26, 2022 06:00 AM

ECONOMY

Yuan Advances to Record Against Peers as PBOC Seen Relaxing Grip

The yuan has charged ahead even as China’s monetary easing narrows its yield advantage over the U.S.

The yuan has charged ahead even as China’s monetary easing narrows its yield advantage over the U.S.

(Bloomberg) — The onshore yuan rose to a record high versus the currencies of China’s major trading partners in another sign that the authorities are easing their grip on the exchange rate.

Bloomberg’s real-time replica of the CFETS yuan index climbed to 103.47 Monday, the highest ever in data compiled by Bloomberg going back to 2007. It traded around 103.45 Tuesday.

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