The offshore yuan traded around 7.09 per dollar, near a one-year high, buoyed by optimism surrounding the Trump-Xi meeting at the APEC Summit in South Korea. Both leaders are expected to finalize a trade framework that rolls back certain tariffs, fees, and export restrictions, easing concerns over prolonged U.S.-China tensions.

The Federal Reserve lowered rates by 25 basis points, though Chair Jerome Powell cautioned that further cuts this year are not assured. The cautious stance lifted the U.S. dollar, pressuring the euro, which slipped below $1.16, and the British pound, which fell under $1.32.

Take a look at today's analysis for more details.