China's yuan strengthened against the dollar on Friday and is set for its first weekly gain in three weeks, tracking broad weakness in the greenback and a much firmer midpoint fixing.
However, markets have turned their attention to the possibility of more easing measures from Beijing, such as the lowering of deposit rates for the first time in nearly five years to prop up the economy.
Onshore yuan opened at 7.0606 per dollar and was changing hands at 7.0573 at midday, 127 pips stronger than the previous late session close. Currently yuan is trading at 7.0663 per dollar.
03 Jun 2020 11:45 AM
Indian shares extended gains for a sixth session and the Nifty crossed the 10,000 mark for the first time since March 13, as Asia's third-largest economy gradually comes out of COVID-19 lockdowns and risk appetite picks up in global markets.
03 Jun 2020 11:16 AM
The yuan took a breather on Wednesday after strengthening against the dollar for four straight days
03 Jun 2020 10:45 AM
Gold traded steady on Wednesday after snapping a three-session winning streak in the previous day, as a rally in equity markets on hopes of more stimulus offset some support from a weaker dollar.
03 Jun 2020 10:32 AM
Indian rupee hit the highest level in five weeks and was at 75.23/75.24 to the dollar against 75.3625/75.3725 in the previous session
03 Jun 2020 09:45 AM
Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic.
03 Jun 2020 09:15 AM
The dollar fell against most Asian currencies on Wednesday as prospects of more government stimulus and a global economic recovery emboldened investors