The offshore yuan steadied around 6.95 per dollar on Monday, holding near thirty-two-month highs, supported by China’s push to deepen financial links with Hong Kong. The People’s Bank of China plans to reinforce Hong Kong’s role as the main offshore yuan hub, support new yuan-based products, and expand swap facilities. The policy-driven steps come amid broader efforts to improve liquidity and access for global investors, helping to stabilize the currency and strengthen its international use. The central bank’s measured pace of appreciation through its fixings and foreign-exchange settlements from exporters further added support. The US dollar also weakened, mostly against the yen amid risks of joint currency intervention with Japan. Markets now await upcoming local PMI figures, with both official and private surveys due this week. Elsewhere, focus is on trade developments as US President Trump warned that Canada could face tariffs of up to 100% if it finalizes a trade deal with China.