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Yuan set for 7th straight quarterly gain as exporters sell dollars before holiday
SHANGHAI: China’s yuan firmed against the dollar on Wednesday and headed for its seventh straight quarterly gain, as exporters stepped up dollar sales and upbeat factory data lifted sentiment ahead of the National Day holiday. The Chinese currency has been on an upward trend since late 2023, underpinned by strong exports, foreign exchange settlement flows and broad dollar weakness. The spot yuan opened at 6.7050 per dollar and was last trading at 6.7047 as of 0221 GMT, 18 pips firmer than the previous late session close. “FX settlement has been the direct driver of the yuan’s appreciation this...
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