Rally comes amid criticism of reliance on depreciation to fuel exports
China’s onshore yuan touched 6.79 per dollar in morning trading on May 11, its highest point since February 2023. © Reuters
SHANGHAI — China’s currency on Monday hit a fresh three-year high against the dollar, underscoring the yuan’s momentum ahead of a key summit between President Xi Jinping and his U.S. counterpart, Donald Trump, later this week.
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