Yuan Rallies by Most Since May After PBOC Boosts Fixing Support

The onshore yuan is heading for its biggest single-day gain in 10 months after the People’s Bank of China strengthened the daily reference rate for the managed currency by the most since January 2025.

China’s currency advanced as much as 0.5% to around 6.87 per dollar on Tuesday. It had touched a one-month low in the last session as surging oil prices pummeled emerging Asian currencies.