According to Trading Economics, offshore RMB remained steady at around 6.73 per USD on Monday, marking its strongest level since February 2023. Despite weaker-than-expected Chinese economic data—fixed asset investment dropped 6.7% year-on-year in the first seven months, July's industrial output and retail sales growth fell short of expectations, and the unemployment rate rose to 5.2%—the RMB was supported by a weaker USD. Reuters noted that recent cooling U.S. economic data and weakening consumer confidence have led markets to further reduce bets on short-term Fed rate hikes, with the probability of holding rates steady in September now estimated at around 67%–70%. As the USD and U.S. Treasury yields declined, the RMB held near a three-and-a-half-year high. https://(wublock123.com)/news/offshore-rmb-nears-3-5-year-high-usd-weak-fed-rate-hike-expectations-ease-66650