Yuan Surges Most In 15 Years On Expectations Of Pro-China Pivot By "President Biden"! CHINA LOVES BIDEN!

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China's onshore yuan, which was closed for trading during China's week-long Golden Week holiday, soared 1.4% today as China returned to work and as the onshore yuan (CNY) caught up to the recent surge in the offshore yuan (CNH), driven by the recent plunge in the dollar and the rising expectations that Joe Biden will win the presidency and renormalize US-China relations by pivoting to a pro-China stance.

The onshore rate for the yuan, which had not traded since September 30 due to holiday, soared as much as 1.41% on Friday to 6.6950, the strongest since April 2019.