USD/CNY at 6.66, a level last seen in March 2022, and the PBOC question is how much further it lets the yuan climb. tphuang flags that the roughly 10% appreciation vs the dollar over the past year has

What happened: CNY rose again, with USD/CNY at 6.66, the highest point since 2022/3. The post notes CNY has weakened against USD and EUR but is up against other currencies. Key numbers: USD/CNY at 6.66, highest since 2022/3. CNY up about 10% vs USD over the past year. A further 5 to 10% rise is discussed. Why it matters: The post says the past year's appreciation has not affected trade competitiveness, so more purchasing power gains are possible. It questions how much the PBOC will allow CNY to climb.

CNY rose again, with USD/CNY at 6.66, the highest point since 2022/3. The post notes CNY has weakened against USD and EUR but is up against other currencies.

The post says the past year's appreciation has not affected trade competitiveness, so more purchasing power gains are possible. It questions how much the PBOC will allow CNY to climb.