Yuan strongest against dollar since August 2015 mini-devaluation

The yuan strengthened by 3.5 % in January. At month's end, one dollar bought 6.29 yuan. Much of the recent trend reflects general dollar weakness. The yuan-euro exchange rate has been relatively stable over the past six months. One euro bought 7.83 yuan at the end of January.

Yuan rates vis-á-vis the dollar, euro and currency basket (NEER)

Sources: J.P. Morgan, Reuters.