
The offshore yuan rose 0.4% to 6.8591 per dollar, extending a four-day rally to nearly 1%. Policymakers announced a package of support measures, including looser mortgage rules for first-home buyers and easier developer borrowing, to shore up the Covid-hit economy.
The currency has recovered about 7% since its record low on October 25.
Broad Chinese stimulus supports growth expectations and import demand, while yuan strength lowers the dollar cost of imports. USD/CNY is trending lower.
Setelah 50 peristiwa kebijakan bearish sebelumnya, Yuan Tiongkok (CNY per USD) bergerak median -0,1% selama 5 sesi (46% lebih tinggi; separuh tengah -0,4% sampai +0,4%), dan -0,0% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
Property and developer support measures spurred yuan buying and extended a four-day rally of nearly 1%, contributing to the drop in USD/CNY.