In Tuesday's trading session, the offshore yuan (CNH) against the US dollar continued its strong performance, trading at 6.8793 at the time of publication, up 86 basis points from the previous session's close in New York.
Market Performance Analysis
The price fluctuated between 6.8964 and 6.8725 throughout the day, forming an obvious upward trend. Concentrated buying appeared in the Asian session, continued in the European session, and remained stable in the US market.
- Technically breaking through multiple resistance levels
- Market expectations that the Fed's rate hike cycle is nearing its end
- Stabilization policies from the PBOC continuing to take effect
The current exchange rate trend reflects growing confidence in China's economic recovery, while the US dollar index has been constrained by multiple factors, creating a favorable environment for yuan appreciation.