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Yuan heads for longest weekly winning streak against dollar in 13 years
| USA | economy

Yuan heads for longest weekly winning streak against dollar in 13 years

#Yuan #US Dollar #People’s Bank of China #Exchange Rates #Forex #Exports #Liquidity

📌 Key Takeaways

  • The Chinese yuan is heading for its 11th straight weekly gain, its longest winning streak since early 2013.
  • Strong exports and seasonal demand are the primary drivers behind the currency's continued appreciation.
  • The People’s Bank of China set the midpoint rate at 6.9590, slightly weaker than analyst estimates but maintaining stability.
  • Onshore dollar liquidity has hit its tightest level since August 2023, partly due to margin calls in precious metal markets.

📖 Full Retelling

The Chinese yuan maintained a resilient trajectory in Hong Kong markets on February 6, 2026, as it remained on track for its longest weekly winning streak against the U.S. dollar in nearly 13 years due to robust export data and seasonal holiday demand. Despite a slightly soft tone during Friday's early Asian trade, the currency marked its eleventh consecutive week of appreciation, a feat not seen since early 2013. The People’s Bank of China supported the market environment by setting the midpoint rate at 6.9590 per dollar, while the spot yuan traded within its 2% allowable band. Financial analysts from ICBC noted that the yuan’s strength is being driven by favorable foreign exchange conversions and a generally weaker dollar index. While the broader market faced volatility—exemplified by a rout in precious metals like gold and silver and concerns over AI-related spending in equity markets—the yuan remained buoyed by internal economic momentum. This resilience comes despite the dollar index showing its own signs of a weekly recovery, as investors sought safety amid fluctuations in the U.S. stock and commodities sectors. However, market participants expect the pace of the yuan's appreciation to moderate in the coming days. Experts point to upcoming holiday market closures and a potential rise in U.S. dollar volatility as factors that could quiet trading activity. Furthermore, onshore dollar liquidity has shown signs of tightening, reaching its lowest levels since late 2023. Traders suggested this squeeze stems from domestic institutions moving capital offshore to manage margin calls triggered by recent instability in the global silver and gold markets.

🐦 Character Reactions (Tweets)

Elon Gibberish

Yuan is on a winning streak, while the dollar feels like it's running on a treadmill: lots of effort for little gain! #FinancialCardio

Currency Sage

The yuan is showing the dollar how to appreciate itself. Probably got some self-help books in its wallet! #FinancialSelfCare

Dollar Watchdog

Looks like the yuan is on a magic carpet ride while the dollar is stuck in traffic. Who knew foreign exchange could feel like a fairy tale? #CurrencyChronicles

Market Oracle

If the yuan keeps this up, it'll be the next contestant on 'Who Wants to Be a Currency Millionaire?' Meanwhile, the dollar just wants to call it a night. #MarketGameShow

💬 Character Dialogue

scorpion: Your weak dollar fears are as laughable as a kitten in a lion's den. Get over here and face the yuan's relentless strength!
GLaDOS: Ah yes, the yuan's impressive streak—truly inspiring for those who enjoy watching paint dry. I suppose even currencies enjoy a seasonal holiday now and then.
scorpion: Robust export data is the battle cry of victory! It tests the honor of the dollar's worthiness!
GLaDOS: The dollar's current state is amusingly akin to a poorly designed science experiment—its results are consistently unfounded and mildly catastrophic.
scorpion: A tightening dollar liquidity? This is the calm before the storm! The weak shall tremble!

🏷️ Themes

International Finance, Currency Markets, Global Trade

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📄 Original Source Content
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Amazon stock slides 9% premarket as 2026 capex guidance blows past expectations Gold, silver prices log shaky gains after bruising week 3 reasons why Bitcoin is falling Amazon’s capex plans, Stellantis, Bitcoin’s fall - what’s moving markets (South Africa Philippines Nigeria) Yuan heads for longest weekly winning streak against dollar in 13 years Currencies Published 02/06/2026, 12:13 AM Updated 02/06/2026, 12:19 AM Yuan heads for longest weekly winning streak against dollar in 13 years 0 Gold Spot US Dollar 2.01% Silver Spot US Dollar 4.75% US Dollar Chinese Yuan 0.02% DX -0.02% GC 0.19% SI -3.54% US Dollar Chinese Yuan Offshore -0.03% HONG KONG, Feb 6 - China’s yuan held a soft tone on Friday, but remained on track for its longest winning streak against the dollar in nearly 13 years buoyed by strong exports. By 0355 GMT, the yuan was 0.05% lower at 6.9396 to the dollar after trading in a range of 6.9390 to 6.9418. Its offshore counterpart traded at 6.9388 yuan per dollar, up about 0.05% in Asian trade. The yuan is now up 0.2% against the dollar this week, on track for its eleventh straight week of appreciation, the longest winning streak since early 2013. Analysts attributed the yuan’s resilience to a slew of positive factors, including a weak dollar, robust exports and seasonal demand. "The FX conversions driven by favourable trends and seasonal holiday factors continue to support the RMB exchange rate," analysts at ICBC said in a note. However, the pace of appreciation may slow against the backdrop of short-term rising U.S. dollar volatility, holiday market closures and quieter trading activity, they said. Prior to Friday’s market open, the People’s Bank of China set the midpoint rate at 6.9590 per dollar, 73 pips weaker than a Reuters estimate and easing further from the 32-month high set earlier this week. The spot yuan is allowed to trade 2% either side of the fixed midpoint each day. Meanwhile, the CF...

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