The Chinese yuan jumped to its highest level in 16 months against the US dollar today after recent data showed a the Chinese economy recovering after it appearing to emerge from the worst of the coronavirus outbreak. This comes at a time when the US dollar is suffering as a result of the decline in risk appetite.
Retail sales rebounded for the first time this year, up by 0.5% yearly while industrial production recorded the strongest growth rate during the year, up 5.6% yearly, ahead of forecasts of 5.1%.
