China’s yuan poised to climb for a seventh consecutive week, though forecasts suggest volatility ahead

Yuan Poised for Seventh Consecutive Weekly Gain

On Friday, the Chinese yuan edged up against the US dollar, marking its seventh straight week of gains—the longest upward trend since 2020. Despite this positive momentum, investors remained cautious as the weekend approached, avoiding significant new positions. The currency's advance was tempered by ongoing weak guidance from the central bank, with experts predicting that any further appreciation will likely be gradual and subject to fluctuations.

By 07:32 GMT, the onshore yuan was valued at 6.9832 per dollar, showing a modest improvement over the previous day's close. The release of China's December consumer price index (CPI), which indicated a 0.8% increase, had little impact on market activity.