The offshore yuan traded around 7.13 per dollar on Friday, hovering near its highest level in three weeks, as the PBOC continued to guide the currency stronger to preserve market stability ahead of a key Communist Party plenum next week. The central bank lifted its daily reference rate for the third consecutive session to a one-year high, a signal interpreted by investors as a firm policy stance favoring yuan stability. Analysts noted that unlike in past periods of tariff escalations, the yuan has remained relatively steady this year, underscoring Beijing’s determination to prevent excessive depreciation amid renewed trade tensions with Washington. The latest tensions stemmed from new US tariff threats and China’s tighter rare earth export controls, though markets still expect dialogue between Presidents Xi and Trump to proceed later this month. Investors now focused on China’s upcoming third-quarter GDP and other key data, which could influence future policy stimulus measures.