FX.co ★ Offshore Yuan Hits Fresh 4-Year High

The offshore yuan strengthened to around 6.69 per dollar on Monday, its highest level since June 2022, as investors reacted positively to a series of robust economic indicators. China’s economy expanded 4.5% year-on-year in the third quarter of 2026, up from the second quarter’s three-year low of 4.3% and above market expectations of 4.4%. Growth for the first nine months of the year reached 4.6%, keeping the economy broadly on track to meet the government’s full-year target of 4.5% to 5%.

Industrial output growth accelerated to 5.5% in September from 5.2% in August, while retail sales growth improved to 1.1% from 0.4%. The surveyed urban unemployment rate inched down to 5.2% from a five-month high of 5.3%.

Market participants now turn their attention to China’s top financial regulators, who will speak at the Financial Street Forum in Beijing later today, seeking policy signals on additional support measures for the economy amid rising speculation that authorities may shift from the seven-day policy rate to an overnight benchmark.