The Chinese yuan is shrugging off a report that President-Elect Joe Biden would not immediately remove the higher tariffs placed on the world’s second-largest economy. The yuan, which has been one of the top-performing currencies in foreign exchange markets, maintained its upward trajectory as it looks to test 6.5 against its US peer.
The Sterling pound today fell against the US dollar driven by risk-averse market sentiment amid concerns that the UK was easing lockdown measures too quickly. The GBP/USD currency pair headed lower as investors sold the pound and other risk assets while piling into safe-haven assets such as the greenback amid global uncertainties.
The Chinese yuan is extending its losses to jumpstart the holiday-shortened trading week. The currency is falling against its rivals on Monday after the White House threatened to slap sanctions on China over the government’s proposed implementation of national security laws on Hong Kong that reportedly threaten its autonomy. The heightened tensions come as the world’s two largest economies escalate their war of words over trade. Whether this is a new […]
The Japanese yen today rallied against the US dollar driven by the risk-off market sentiment, which saw the yen benefit from safe-haven flows. The USD/JPY currency pair fell to new multi-week lows as the yen kept making gains against the greenback despite the DXY’s gains.
The Chinese yuan fell to a one-month low against the US dollar to close out the trading week, driven mostly by sluggish manufacturing and renewed trade threats by the White House. Now that China has hit the reboot button on the economy, could Beijing contend with another trade spat with the US?
The Chinese yuan is rebounding on Thursday as reports suggest that the central bank will unleash additional stimulus to contain the Wuhan coronavirus’ impact on the world’s second-largest economy. While the death toll and number of confirmed cases have risen in China, global financial markets believe that the outbreak is waning. These reports come as Beijing is set to cut tariffs on US goods and report crucial trade data on Friday.
The US dollar slumped midweek as the US and China officially signed the first phase of a comprehensive trade agreement. This comes as December inflation was subdued and business optimism fell short of analysts’ expectations. Still, the greenback is trading relatively higher against a basket of currencies this month.
The Chinese yuan is rallying against multiple currencies to kick off the trading week, buoyed by industrial production and retail sales beating market expectations. With the first phase of a comprehensive US-China trade agreement established, global financial markets have been extended some certainty, which is good news for the world’s second-largest economy and its currency.
The Chinese yuan is spiking on Thursday after President Donald Trump tweeted that the US and China are “very close to a big deal.” Mirroring the financial markets, the yuan pared its earlier losses and is rallying on the news. The yuan could end the week higher following this week’s upbeat economic data. But could the yuan exit the 7 territory against the US dollar to close out the year?
The British pound today held on to yesterday’s gains against the US dollar two days ahead of Thursday’s elections with opinion polls predicting a win by the Conservative Party. The GBP/USD currency pair today rose to 8-month highs as investor optimism about Britain’s future including Brexit remained high.
