Yuan surges against dollar amid China reopening rumour, offshore yuan posts record gains against dollar

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

The offshore yuan extends gains against the US dollar to more than 1,400 pips, or nearly 2%, to recover 7.19 per dollar mark, now trading 7.1864 per dollar.

The onshore extends gains against the greenback to more than 1,300 pips or 2% to break through 7.18 per dollar mark. 

The US Dollar Index tumbles by 1% to hit 111.8, leading to a sharp rally in non-dollar currencies.