China’s yuan retreats from its three-week peak after Trump pledges ongoing attacks against Iran

Yuan Retreats as Trump Signals Ongoing Action in Middle East

The Chinese yuan retreated from its highest level in three weeks against the US dollar on Thursday, following a televised address by US President Donald Trump. In his speech, Trump refrained from providing a definite timeline for resolving the conflict in the Middle East and instead cautioned that further military operations against Iran were likely in the coming weeks.

While the president noted that the US military was close to achieving its objectives in Iran and suggested the confrontation could soon draw to a close, he also pledged to continue forceful measures against Iran for the next two to three weeks. This uncertainty unsettled financial markets, as investors were left without a clearer sense of when tensions might ease.