Chinese yuan hit three-month high to test 7-per-dollar mark as market sentiment improves

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Chinese yuan strengthened sharply against the US dollar on Tuesday to hit the strongest level in more than three months as market sentiment improves amid a strong rally in the stock market.

Traders say that the bull run in the A-share market continued in the morning session on Tuesday, the risk-on mood in the market push the offshore yuan to break through the critical 7-per-dollar mark at one point. Onshore yuan also surged more than 300 pips to approach the psychologically important level.

As stock market gains narrowed in the afternoon . . .

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