PBOC’s Easier Grip on Yuan May Stem From Trade-Weighted Strength
Beijing’s currency defense against the dollar risks coming undone by the side effect it is having against the other major currencies in China’s trading orbit.
Beijing’s currency defense against the dollar risks coming undone by the side effect it is having against the other major currencies in China’s trading orbit.
Oil headed for its first back-to-back weekly drop this year as a wider risk-off mood driven by hawkish comments from Federal Reserve policymakers countered tensions in the Middle East between Iran and Israel.
Australia is on track to deliver a second consecutive budget surplus even as mounting headwinds in key trading partner China and geopolitical tensions weigh on its economy, Treasurer Jim Chalmers said in Washington.
Asian stocks are set to drop after US shares and Treasuries extended this month’s selloff after solid economic readings and hawkish Fedspeak reinforced speculation interest rates will remain higher for longer.
Israel received its first-ever sovereign downgrade as S&P Global Ratings lowered its credit rating to A+ from AA- on heightened geopolitical risks for the region.
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