China’s yuan climbed to a three-year high against the dollar as investors digested the lead-up to the Trump-Xi summit. Equities pulled back on profit-taking, while attention tilted to AI progress. Despite hopes for stability and a possible managed trade approach on non-sensitive goods, expectations remain low for major trade breakthroughs.
Yuan trading is expected to overtake the yen as the world’s second most traded currency against the dollar in foreign-exchange options, LCH says. The change, projected for 2028, points to accelerating yuan internationalization and rising demand for diversification beyond dollar-linked hedging strategies.
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As the rupee weakens, Indian firms are changing how they pay for imports and where they source goods. Many are shifting Chinese purchase payments to yuan to secure better terms, while simultaneously increasing local sourcing to cut import dependence. The dual move helps manage costs and currency pressure in a tougher trade environment.
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