Chinese yuan hits 4-mth high on reopening cheer, U.S. payrolls awaited.
The Chinese yuan jumped to a four-month high on Friday as markets bet on a strong economic boost from China reopening its borders this month, while broader Asian currencies were flat as focus turned to key U.S. payrolls data for more cues on the economy.
The yuan was among the best performers for the day, rising 0.4% to 6.8533 – its strongest level against the dollar since late-August. The offshore yuan also added 0.5%.
Markets are hotly awaiting the reopening of Chinese borders this Sunday, following three years of lockdowns that ravaged the world’s second-largest economy.
