A leading economist recently shared an interesting take on currency dynamics: the renminbi is entering a new strengthening phase. The fundamentals check out—pricing competitiveness in the yuan has been genuinely solid, and that advantage has only widened as time goes on. Looking at the period from April 2022 through mid-year, the picture becomes clearer when you examine the broader trend lines. This kind of currency cycle analysis matters because macro shifts often ripple through global asset markets, including digital assets. When major currencies shift positioning, it creates different incentives and flows across markets that investors should probably keep an eye on.