Yuan Rallies Most in 10 Months as PBOC Strengthens Fix Into NPC

The yuan rallied after the People’s Bank of China signaled its comfort with the currency’s appreciation via its daily reference rate, ahead of the National People’s Congress.

The onshore unit advanced as much as 0.5% to 6.8750 per dollar, to post its biggest jump since May 12. That’s after the central bank strengthened the daily reference rate for the currency by the most since August.