© Reuters. The is displaying signs of considerable strain, edging towards the boundary of its 2% fixed trading band against the dollar. This movement reflects the mounting pressures from a robust dollar and escalating real estate difficulties in China. The currency has depreciated over 1.9% from its daily reference rate this week, marking a significant
© Reuters. Investing.com – The U.S. dollar edged higher, just below the recent six-month high, making a steady start to the new week as traders digested last week’s series of central bank interest rate decisions. At 03:20 ET (07:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded
© Reuters. Arthur Hayes, the former CEO of BitMex, has recently conducted an analysis on the potential capital flight from China, following the (CNY) depreciating nearly 15% against the U.S. dollar (USD) this year. The depreciation has ignited speculation about China’s investment strategies in the face of economic instability. Hayes’ analysis was informed by insights
© Reuters. FILE PHOTO: Signs of Chinese yuan and U.S. dollar are seen at a currency exchange store in Shanghai, China August 8, 2019. REUTERS/Aly Song/File Photo BEIJING (Reuters) -China’s yuan will stabilise after improvements in recent economic data and the bottoming out of domestic prices, state-owned media said on Monday. China’s falling interest rates
© Reuters. FILE PHOTO: U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo By Elizabeth Howcroft LONDON – The U.S. dollar was just below a six-month high in early European trading on Friday, having strengthened overnight following U.S. economic data, while the yuan got a boost from better-than-expected Chinese
© Reuters. The People’s Bank of China (PBOC) plans to issue a larger batch of bills in an effort to stabilize the weakening yuan, according to state media Financial News on Thursday. This move follows the central bank’s announcement of ramping up bill sales in Hong Kong next week. The PBOC intends to sell CNY
© Reuters. Investing.com– Most Asian currencies moved little on Friday as weak data from Japan ramped up concerns over slowing global economic growth, while the Chinese yuan slid to an over 15-year low against the dollar on renewed concerns over Sino-U.S. relations. The fell 0.2% to 7.3443, its weakest level against the dollar since February
USD/CNY daily chart USD/CNY is now trading above 7.34 and that is the highest level for the pair in 15 years. The mounting pressure on the Chinese economy is continuing to weigh on the yuan currency and despite Beijing’s best efforts to try and stem the drop, it is tough to fight a tidal wave
© Reuters. FILE PHOTO: The headquarters of the People’s Bank of China, the central bank, is pictured in Beijing, China, February 3, 2020. REUTERS/Jason Lee/File Photo SHANGHAI/SINGAPORE (Reuters) -China’s central bank said on Friday it will cut the amount of foreign exchange that financial institutions must hold as reserves for the first time this year,
Thursday evening news from China: China’s Industrial Bank says it’ll cut its yuan deposit rates by 10-25 basis points, effective from Friday, 1 September 2023. one-year deposit rate will be cut by 10 bps to 1.75% two-year deposit rate will be cut by 20 bps to 2.00% three- and five-year rates will be cut by
