Briefing: Yuan Strengthens on Weaker Dollar, China Stimulus - Caixin Global

A run-down of key China developments over the past 24 hours:
Yuan appreciation: The offshore yuan strengthened past the 7 mark (link in Chinese) against the U.S. dollar for the first time since May 2023 on Wednesday. The dollar has broadly weakened as expectations have grown for the Federal Reserve to make another 0.5-percentage-point interest rate cut in November due to a decline in consumer confidence. China’s new stimulus package aimed at boosting the economy also lent strength to the yuan.
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