离岸人民币对美元汇率升破7.04，续创14个月新高

Core Viewpoint - The Renminbi (RMB) has strengthened against the US dollar in both onshore and offshore markets, with the offshore RMB breaking the 7.04 mark, reaching a high of 7.0371, the highest since October 4, 2024 [1]. Group 1: Market Performance - On December 16, the offshore RMB against the US dollar reached a high of 7.0371, marking a significant increase [1]. - In the onshore market, the RMB against the US dollar peaked at 7.0417, also the highest since October 2024 [2]. - The RMB's midpoint rate was adjusted up by 54 basis points to 7.0602, the highest since October 9, 2024 [3]. Group 2: Influencing Factors - The recent appreciation of the RMB is attributed to two main factors: the decline of the US dollar index below 100 following the Federal Reserve's interest rate cut on December 11, and increased corporate demand for currency exchange as the year-end approaches [4]. - The Central Economic Work Conference's positive policy deployment, increased year-end currency settlement, and a low probability of interest rate cuts are expected to support the RMB's exchange rate [4]. - The recent adjustments in the RMB's midpoint rate indicate a goal to align the exchange rate with economic fundamentals, aiming to create a stable trading environment for foreign trade enterprises rather than promoting rapid appreciation [5].