人民币对美元汇率创逾一年新高

Group 1 - The offshore RMB to USD exchange rate has surpassed the 7.0 mark, reaching a high of 6.9985, marking the first time since September 2024 that both offshore and onshore RMB have crossed significant thresholds [1] - The overall trend for the offshore RMB against the USD in 2025 has shown a pattern of "initial suppression followed by recovery and oscillation," indicating a clear appreciation trend [1] - The recent appreciation of the RMB is attributed to a weaker USD, a decline in the USD index, strong fundamentals from the Chinese economy, and year-end demand for currency settlement [2] Group 2 - The interest rate cuts by the Federal Reserve have led to a recovery in the China-US interest rate differential, supporting the continued mild appreciation of the RMB [2] - The People's Bank of China has emphasized maintaining the RMB exchange rate stability at a reasonable and balanced level, indicating a focus on monetary policy adjustments to support this goal [4] - The offshore RMB's appreciation is expected to have a positive impact on the capital markets, enhancing the risk appetite for Chinese equities and increasing foreign investment in RMB-denominated assets [3] Group 3 - The appreciation of the offshore RMB is expected to have a mixed impact on trade, reducing import costs for commodities while potentially weakening the competitiveness of export-oriented goods [2] - The central bank's recent meetings have highlighted the importance of using various monetary policy tools to ensure liquidity and stabilize the RMB exchange rate [4] - Market participants are advised to be cautious of unilateral exchange rate fluctuations and consider using financial instruments to hedge against short-term volatility [3]