China’s yuan hits three-year high days before Xi-Trump summit
Currencies
Rally comes amid criticism of reliance on depreciation to fuel exports
China’s onshore yuan touched 6.79 per dollar in morning trading on May 11, its highest point since February 2023. © Reuters
SHANGHAI — China’s currency on Monday hit a fresh three-year high against the dollar, underscoring the yuan’s momentum ahead of a key summit between President Xi Jinping and his U.S. counterpart, Donald Trump, later this week.
