empty
 
 

26.08.202502:13:09UTC+00Offshore Yuan Firms Over 4-Week High

The offshore yuan maintained its upward trajectory, trading around 7.15 per dollar on Tuesday, nearing its highest mark in over four weeks. This strength was bolstered by the declining US dollar, following President Trump's decision to terminate Fed Governor Lisa Cook's position. This move sparked concerns about the central bank's independence and bolstered expectations of earlier interest rate cuts. Just days ago, Federal Reserve Chair Jerome Powell adopted a dovish stance during the Jackson Hole Symposium, indicating a potential rate cut in September. In international trade developments, President Trump cautioned China about supplying rare-earth magnets to the US, threatening tariffs of up to 200% if compliance is not met, alongside the possibility of imposing levies on nations with digital taxes, which could negatively impact the yuan. Concurrently, Beijing, having imposed stricter export controls on rare earths back in April, remains highly sensitive to its pivotal role in this sector.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In August we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback