The offshore yuan traded around 7.09 per dollar on Thursday, holding near a one-year high as market sentiment remained upbeat on the back of the meeting between Presidents Donald Trump and Xi Jinping. The encounter marked the first between the two leaders since Trump’s return to office in January, with the pair exchanging handshakes on the sidelines of the APEC Summit in South Korea. Both sides are expected to finalize details of a framework agreement initially negotiated over the weekend in Malaysia, which includes a rollback of select tariffs, fees, and export restrictions. The potential deal has fueled optimism over an easing of trade tensions between Washington and Beijing following months of friction that rattled global markets. Meanwhile, in China, investors are awaiting upcoming PMI releases, with official data due later this week and private surveys scheduled for next week.
