Yuan Surges Past 6.7 per Dollar to Three-Year High
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Screens on the floor of the New York Stock Exchange display Fed Chairman Kevin Warsh speaking during a news conference on Wednesday, Sept. 16. Photo: VCG
The onshore Chinese yuan strengthened past 6.7 per U.S. dollar on Friday to touch its highest level in more than three years, defying expectations of depreciation following the Federal Reserve’s latest interest rate hike.
The currency touched an intraday high of 6.6853 per dollar — its strongest level since June 2022 — before paring gains into the close.
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