Offshore yuan hits 2-week peak on report on stable currency pledge

NEW YORK: The Chinese yuan reached a two-week high against the dollar on Tuesday following a Bloomberg TV report that said the United States is pressing to secure a pledge from China that it will not devalue its yuan as a part of a trade deal.

At 12:54 EST (1754 GMT), the yuan was up 0.34 percent at 6.7504 per dollar in offshore trading, EBS data showed. Earlier, the Chinese currency hit 6.7497, which was its strongest against the greenback since Feb. 4.