China’s offshore yuan strengthened to 7.32 per dollar, its highest level in three weeks, as the PBoC held key lending rates steady in January. The 1-year LPR remained at 3.1%, and the 5-year LPR was kept at 3.6%. Despite a 3% drop since Trump’s election victory, China’s Q4 2024 GDP grew 5.4%, surpassing expectations, although unemployment rose to 5.1%.