The renminbi breached the 6.70-per-dollar level on both onshore and offshore spot markets today. Offshore renminbi hit an intraday high of 6.6933, onshore reached 6.6964 — the strongest levels since Feb 2023. Wang Qing, chief macro analyst at Dongfang Jincheng, said the renminbi is likely to remain mildly strong in the near term; key risks include China’s export growth and monetary policy shifts in major overseas economies that affect the dollar index. He expects the currency to generally move i

Turkey’s Capital Markets Board said on Thursday it has appointed the country’s largest private bank, Turkish Bank, and the state Agricultural Bank to oversee liquidation of 131 investment funds. The funds hold more than $18 billion of assets and involve about 350,000 investors. Turkish Bank will handle funds established by Tera Portfoy Yonetimi AS; the Agricultural Bank will supervise funds run by six other asset managers, including Pusula Portfoy Yonetimi AS. The banks will sell assets in phases and remit cash to investors pro rata. Redemption requests submitted after 13:30 on Sept. 17 will be prioritised.

美聯儲理事鮑曼將於十分鐘後參加關於壓力測試的交流活動。