The US dollar has continued to depreciate, dropping to a three-year low versus the yuan on Monday as global investors look for safer assets amid China’s economic rebound from the Covid-19 pandemic.
The greenback is on track for its second consecutive month of loss against a basket of currencies. The offshore yuan was trading at 6.3553 per dollar, its strongest level since May 2018, despite analysts’ warnings that the Chinese authorities aim to curb its rise.
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