Chinese Yuan Hits 10-Month High Against Dollar on U.S. Trade Optimism
Barronsยท2025-09-16 08:24
Group 1 - The Chinese yuan has reached a 10-month high against the dollar due to optimism surrounding reduced U.S.-China trade tensions and expectations of interest-rate cuts by the Federal Reserve [1][2] - Treasury Secretary Scott Bessent announced a framework for a deal regarding the ownership of TikTok, which may facilitate a phone call between President Trump and President Xi Jinping, potentially leading to broader trade negotiations [2]