在美元贬值的支撑下，离岸人民币兑美元汇率升至7.22左右，创四个月新高。美元的下跌主要是由于对美国经济的持续担忧，而唐纳德·特朗普总统不可预测的贸易政策加剧了这种担忧。特朗普最初承诺将钢铁和铝的关税提高一倍至50%，并警告称，如果加拿大进行报复，他将采取进一步措施，但几小时后他改变了立场。这一逆转加深了市场的不确定性，加剧了人们对更广泛贸易中断的担忧。在中国，政府公布了加大财政刺激力度以促进经济增长的计划，包括将财政赤字目标提高到GDP的4%，并在2025年发行1.3万亿日元的超长期债券。在货币政策方面，在中国人民银行行长潘功胜表示任何宽松政策都将“在适当的时候”发生后，交易员们降低了对立即降息的预期

The offshore yuan strengthened to around 7.22 per dollar, reaching a four-month high, supported by a depreciating US dollar. The dollar's decline was largely driven by ongoing concerns about the U.S. economy, exacerbated by President Donald Trump's unpredictable trade policies. Trump initially pledged to double tariffs on steel and aluminum to 50% and warned of further measures if Canada retaliated, only to reverse his position just hours later. This reversal deepened market uncertainty and heightened fears of broader trade disruptions. In China, the government unveiled plans to ramp up fiscal stimulus to bolster growth, including raising the fiscal deficit target to 4% of GDP and issuing ¥1.3 trillion in ultra-long-term bonds for 2025. On the monetary policy front, traders scaled back expectations for immediate rate cuts after People's Bank of China Governor Pan Gongsheng stated that any easing would occur "at an appropriate time."