The Chinese yuan rose to a 14-month high against the dollar on Monday, as the overall weakness of the US currency outweighed concerns about China's slowing economic growth and lowered expectations for an official policy adjustment. Trading data showed the yuan strengthening to 7.0876 per dollar, marking its highest level since May 2022. Experts attribute the dollar's weakening to the US Federal Reserve's decision to keep interest rates unchanged and signals indicating a possible end to the rate-hiking cycle. Nevertheless, some analysts remain concerned over the slowdown in China's economic growth and the resulting decrease in investor demand for the yuan.
