The RMB exchange rate hits a new high again, with both onshore and offshore markets strengthening

According to data from China Foreign Exchange Trade System, the onshore RMB against the US dollar continues to rise, breaking through the 7.01 mark and reaching a new high since September 27, 2024. Meanwhile, the offshore RMB is also showing resilience, once again surpassing the 7.0 level, with the two markets moving in tandem upward.

This consecutive breakthrough in the RMB exchange rate indicates a relative weakening of the US dollar and a clear RMB appreciation trend. Whether in the regulated onshore market or the freely floating offshore market, there is a consensus of RMB strength. The onshore market led the way by breaking through 7.01 first, followed by the offshore market's upward movement, forming a "dual-drive" pattern that demonstrates strong momentum for RMB appreciation.

From a technical perspective, breaking through key psychological and previous high points consecutively suggests that an upward trend for the RMB has been established. For traders monitoring exchange rate fluctuations, this signal warrants close attention to subsequent market performance.