The yuan at the highest level since November amid the weakness of the dollar and the strength of the shares

The Chinese Yuan has risen to the highest level against the dollar since November, supported by the decline in the US currency and the recovery of local equities. The currency rose 0.1%, with 7.1447 Yuan for the dollar in the local market, before the profits later shrank. Thus, the yuan has increased by about 2% since the beginning of the year. The morale of investors is reinforced by the expectations of the ongoing shares with the approaching “Victory Day” offer on September 3, leading to the flow of capital to the market and the support of the yuan. Federal signals are pressing the dollar, the dollar has fallen since the chairman of the Federal Reserve, Jerome Powell, during the “Jackson Hall” meeting last week, until the earliest time in September the risk of lowering interest rates. Read more: The Federal Reserve chairman leaves the door open to reduce interest in September, says Christopher Wong, a currency strategy at ‘Oversea-Kindeses Banking Corp’ in Singapore: ‘Over the past few weeks we have also seen net flow from foreign capital to Chinese shares. These factors, along with the federal approach to the resumption of the interest reports and the yuan, achieved the support of the people. Monday after the Chinese People’s Bank has strengthened the daily reference of the currency at the biggest frequency since January. The central bank on Wednesday increased the daily reference of the currency by 0.1% to 7.1108. Read more: China increases the price of the reference Yuan on the largest frequency since January amid the dollar weakness that increases analysts in banks, including ‘Deutsche Bank’, ‘Ups’ and ‘Toronto-dominion’, their expectations for the Chinese currency versus the 7 Yuann level, based on optimism about the possibility of a trade agreement between the United States and China.