Group 1 - The yuan has extended its gains, achieving its longest winning streak against the US dollar since 2010, with the onshore yuan reaching 6.8310 per dollar, the strongest level since April 2023 [2] - The People's Bank of China set the daily reference rate at 6.9228, marking a second consecutive strengthening [2] - Exporters are increasing foreign-currency settlements, contributing to the yuan's strength, despite some state banks purchasing large amounts of dollars [3] Group 2 - Expectations are rising that Chinese officials may support a modest yuan appreciation this year, which could enhance capital inflows and ease trade tensions [4] - The authorities are not trying to halt the yuan's appreciation but are managing its pace, with a revised year-end forecast for the onshore yuan set at 6.75 [5] - The onshore yuan has gained approximately 1% over the past five sessions, the fastest pace since January 2025 [6] Group 3 - Additional support for the yuan may arise from upcoming discussions between US President Donald Trump and Chinese President Xi Jinping regarding tariffs [7] - The market shows that yuan bulls are confident, despite a significant gap between the official fixing and market estimates, indicating a preference for a slower appreciation by the PBOC [8]