Yuan
Former People's Bank of China adviser Liu Shijin has urged China to leverage its massive buying power to increase yuan-settled imports, aiming to accelerate the currency's internationalization. The advice gains renewed relevance amid the yuan's recent appreciation and rising US dollar uncertainties under President Donald Trump.
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China's onshore yuan closed at its strongest level since May 2023, trading at 7.0066 per dollar, amid a weakening US dollar. This development, typically bullish for bitcoin, has not lifted the cryptocurrency, which lingers below $90,000. Factors like thin year-end liquidity and ETF outflows are muting the expected rally.