China's onshore yuan strengthened to a high of 7.2650 per US dollar, marking its strongest level since April 1. The People's Bank of China (PBOC) set the USD/CNY central parity rate at 7.2014, significantly stronger than the Reuters estimate of 7.2670 and the previous close of 7.2715. This adjustment represents a 15-pip increase in the central parity rate and is 650 pips stronger than market expectations. Despite weak Purchasing Managers' Index (PMI) data, the yuan maintained stability, with the offshore yuan (CNH) trading around 7.27 per dollar during the North American session ahead of the May Day holiday.