China's yuan rises to 1-1/2-month high on strong fixing, dollar softness as Fed holds rates
HONG KONG: China's yuan edged up and touched a one-and-a-half-month high against the US dollar on Thursday, supported by dollar weakness after the Federal Reserve held interest rates steady overnight, while the Chinese central bank set the midpoint rate at its strongest level in more than three years.
The US currency fell across the board after the Fed left the interest rate unchanged and offered no forward guidance. "The yuan strengthened due to the weakening of the dollar index," Nanhua Futures analysts said in a note.
If US inflation data exceeds expectations and more voting members are in favour of hiking rates, the dollar will find support in the short term, they said.
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This is a brief of a report by another newsroom. The excerpt below is from the original.
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About this story
- Source
- New Straits Times
- Originally published
- Jul 30, 2026
- Updated here
- Aug 15, 2026
- Produced by
- Malaysia Times desk (brief) — reporting by the source
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