The safe-haven dollar drifted lower in Asia on Wednesday as gains for European equity futures pointed to improved risk appetite despite fresh signs of the Chinese economy's struggles.
Dollar selling by state-owned Chinese banks helped the yuan rally off a one-month low even as the country slipped into
The dollar eased even as China's economy offered fresh reasons for worry about global growth, as data showed"There's still no signs yet from officialdom of imminent support" for the Chinese economy, despite the "protest of sorts against the recent run-up in the dollar-yuan rate" implicit in the strong yuan fixing, said Ray Attrill, head of foreign-exchange strategy at National Australia Bank.
U.S. inflation data is due Thursday and looms large over a market hungry for clues on the path for Federal Reserve policy. The message has been far from uniform though, with Fed Governor Michelle Bowman saying on Monday that further hikes are likely.
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