The offshore yuan strengthened past 7.16 per dollar on Friday, extending gains from the previous session, supported by the robust fixing from the People’s Bank of China. The central bank set the daily midpoint at 7.1475, stronger than the expected 7.1771, signaling continued policy support for the currency. Meanwhile, Australian Prime Minister Anthony Albanese announced plans to meet Chinese President Xi Jinping during an upcoming trip aimed at strengthening business ties. In China, investors are bracing for key economic releases next week. In particular, Q2 GDP and trade figures are expected to provide valuable insights into the impact of evolving US-China trade tensions. However, the yuan's appreciation was partially tempered by a strengthening US dollar amid fresh tariff measures and shifting signals from US monetary policy. Despite Friday’s gains, the currency is on track to snap a three-week winning streak.