Will the yuan’s recovery last?

China’s yuan pushed through the symbolically important seven-to-the-dollar mark for the first time since August last week. Will its strength continue?

Hands holding 100 yuan banknotes © iStockphotos

The yuan has reached a three-month high
(Image credit: Hands holding 100 yuan banknotes © iStockphotos)

"China very much wants to make a deal", US president Donald Trump declared over the weekend. "Their supply chain is all broken, like an egg." Rumours that a forthcoming "phase one" deal between Washington and Beijing could include the rollback of some existing tariffs sent China's yuan through the symbolically important seven-to-the-dollar mark for the first time since August last week. It reached 6.98 to the dollar.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Markets editor

Alex is an investment writer who has been contributing to MoneyWeek since 2015. He has been the magazine’s markets editor since 2019. 

Alex has a passion for demystifying the often arcane world of finance for a general readership. While financial media tends to focus compulsively on the latest trend, the best opportunities can lie forgotten elsewhere. 

He is especially interested in European equities – where his fluent French helps him to cover the continent’s largest bourse – and emerging markets, where his experience living in Beijing, and conversational Chinese, prove useful. 

Hailing from Leeds, he studied Philosophy, Politics and Economics at the University of Oxford. He also holds a Master of Public Health from the University of Manchester.