On May 26th, the US dollar index plunged in the intraday session, falling about 0.3%, and fell 1.85% last week, setting a new three-week low. On the same day, the exchange rate of the onshore and offshore RMB against the US dollar both rose sharply, and the offshore RMB rose above 7.17 yuan, setting a new high since December 2024. The central parity rate of the RMB against the US dollar also rose to its highest level since April 2. The exchange rate of the US dollar against the offshore RMB soared by more than 2,500 basis points in more than a month. < b > The market's concerns about the double deficit in the United States deepened, and the Federal Reserve's cautious remarks also suppressed market sentiment. On the domestic front, CICC Foreign Exchange believes that the RMB exchange rate can be supported by the improvement of cross-border fund management, and Guan Tao is also optimistic about the stability of the RMB exchange rate.
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