After opening at 6.9595 per dollar on Friday morning, the onshore spot yuan strengthened as much as 1.02% from its late-night close to 6.9570 per dollar, its firmest since Aug. 2.
SHANGHAI: China's yuan jumped to a 4-1/2 month high against the U.S. dollar and Chinese shares rallied on Friday after reports that the United States and China agreed to reduce existing tariffs and delay new ones set to take effect this weekend.
The United States has reached a "phase one" trade deal in principle with China, a source briefed on talks between the two nations told Reuters on Thursday, adding that a statement from the White House was expected soon.
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