China sets strongest yuan fixing since early 2023

China has set the yuan's daily midpoint at 6.7807 per dollar, its strongest fixing since early 2023.
The $CNY has strengthened by roughly 4% against the dollar this year, moving from above 7.00 in January to around 6.72.
The move suggests Beijing is allowing a controlled pace of appreciation rather than resisting currency strength outright.
The stronger fixing comes ahead of President Xi Jinping's expected September 24 visit to the White House, adding a geopolitical dimension to an already significant shift in China's currency policy.