Societe Generale: Yuan Steady Appreciation Supported by PBoC
CNY has strengthened to 6.7424, its best level since February 2023, as dollar weakness and the PBoC’s stance support the currency, SocGen says.
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Societe Generale analysts point to a firm trend in the Chinese yuan, noting it has advanced to 6.7424 against the dollar — the strongest since February 2023.
The move is attributed to dollar weakness and a supportive PBoC stance.
The bank highlights the yuan's steady appreciation as the currency benefits from the current policy backdrop.
Source: FXStreet Forex News