Dollar gains cause yuan's largest weekly drop since March 2026

The Chinese yuan retreated against the dollar, reaching its lowest level since March 2026, due to the strength of the US dollar and inflation data that came in higher than expected, which reinforced expectations of a US interest rate hike. The yuan started trading at 6.7970 against the dollar and fell to 6.8022 amid ongoing pressure, while the dollar index rose near its highest levels in a year, even though the yuan remains up 2.8% since the beginning of the year.

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