Currency check: Asia-Pacific currencies strengthen sharply, led by the Chinese yuan

Both the onshore and offshore Chinese yuan strengthened against the dollar in Asia’s session ahead of a press conference on Covid measures.

The greenback lost 1.09% against the offshore yuan and 0.65% against the onshore yuan, with both trading around 7.16-levels. The offshore yuan traded near 7.24 per dollar before it strengthened sharply.