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📈 The Chinese yuan surpasses the 7 level against the dollar for the first time since September 2024
The Chinese currency has seen a significant rise amid expectations that the Chinese central bank will allow a gradual increase in the yuan to boost market confidence, according to Bloomberg.
🟠 Market flows tend to sell the dollar, while major Chinese banks are buying the dollar heavily at the 7.006 level
🟠 Goldman Sachs' expectations: The yuan is undervalued