The offshore yuan steadied around 7.18 per dollar on Wednesday, as investors turned their attention to the Lujiazui Forum in Shanghai. The event is jointly organized by three key Chinese financial regulatory bodies—the People’s Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission—alongside the Shanghai Municipal Government. Investors are closely watching for major financial policy initiatives.
At the same time, Hong Kong and Shanghai are set to sign an agreement to deepen financial collaboration at the Lujiazui Forum, as both cities seek to strengthen ties and enhance resilience amid rising geopolitical tensions. On the monetary policy front, investors are focused on the PBoC’s upcoming policy decision, with market expectations pointing to unchanged loan prime rates. Meanwhile, geopolitical tensions in the Middle East continue to weigh on sentiment, as the US considers a potential strike on Iran, adding to global uncertainty.
