Yuan gains on China stimulus hopes, U.S. election caution

The offshore yuan strengthened to around 7.09 per dollar, returning from prior losses and reaching a near three-week high.

Yuan gains on China stimulus hopes, U.S. election caution

Traders are closely watching China’s National People’s Congress, which has just begun its five-day session, as officials are expected to announce further debt and fiscal measures to boost economic growth. Reports suggest China may introduce a significant stimulus package exceeding CNY 10 trillion to support the economy amid persistent challenges.

Caution ahead of U.S. election amid Trump tariff, China tension concerns

However, caution prevails ahead of the U.S. presidential election, as concerns grow that a potential second term for former President Donald Trump could increase tariffs and rising U.S.-China tensions.