Global Market: Yuan strengthens as dollar retreats; China pushes back against undervaluation claims

Economic Times - Oct 9, 2026

The Chinese yuan strengthened against the US dollar as the greenback retreated from an 18-month high. Beijing defended its currency policy amid European Union trade negotiations, rejecting undervaluation claims. Supported by strong exports and foreign capital inflows, the yuan has gained 4.4% this year, with authorities favouring stability and gradual appreciation.

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