SHANGHAI: China’s yuan strengthened to a five-month high, punching past 6.9 per dollar ahead of this week’s planned trade-deal signing with the U.S.
The currency rose as much as 0.32% to 6.8968 versus the greenback in Shanghai on Monday morning, the strongest since July 31. It pared the gain to 0.26% as of 2:55 p.m. local time. The offshore rate gained 0.2% to 6.9014.
The Bloomberg replica of the CFETS RMB Index, which tracks the yuan versus a basket of trading partners’ currencies, increased for a fourth session to 92.33, the highest since early August.
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