Offshore Yuan Hits 6.7041 per Dollar, Nearing 2022 High

The yuan's push toward its 2022 high lands right after a Fed hike, a combination that typically signals broad dollar softness rather than yuan-specific strength — the offshore leg is where positioning moves first, so this level matters as a sentiment marker more than a policy statement. What it affects most is the carry and hedging calculus for anyone with cross-border exposure, since the onshore-offshore gap tends to widen when the move is sentiment-driven. Whether the pair can hold below the prior intraday high, or stalls there, is the open question worth watching.