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Yuan at strongest against dollar since 2023 as China weaponizes trade war lessons
May 7, 2026
< 1 min read
by Noor Bazmi
for CryptoPolitan
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AI Overview
PBoC set the yuan daily reference at 6.8487 per USD, the currency's strongest level versus the dollar in over three years, indicating RMB strength and potential capital flow shifts. Persistent investor doubts about dollar holdings may reshape demand: a stronger yuan could reduce crypto demand as a dollar hedge but prompt regional CEX/DEX and stablecoin activity as traders rebalance; implications for crypto adoption and DeFi are mixed.
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Beijing’s central bank moved the yuan to its most powerful position against the American dollar in more than three years, marking another step in the country’s effort to grow its currency’s global role while doubts about dollar holdings continue among investors. The People’s Bank of China put the yuan’s daily reference point at 6.8487 per...
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