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Story summary
- China's yuan rose to 6.867 per United States dollar (U.S. dollar) on Wednesday, its strongest in nearly three years.
- The People's Bank of China set the midpoint rate at 6.9321, the strongest since May 2023.
- This appreciation stems from easing U.S.-China trade tensions and exporters converting earnings ahead of the Lunar New Year.
- Analysts say the yuan could revert to following broader U.S. dollar trends once seasonal conversions ease.
