The dollar slid across the board on Monday as traders piled into riskier assets after more Chinese cities eased some of their COVID related restrictions, stoking hopes of an eventual reopening of the world’s second biggest economy. | Reuters
The dollar weakened below 7.0 yuan in offshore trade, while the onshore yuan jumped roughly 1.4 percent to as high as 6.9507 on Monday morning, its strongest since Sept. 13.
Investors’ focus will be on U.S. consumer price inflation data due out on Dec. 13, one day before the Fed concludes its two-day policy meeting. Meanwhile, the Japanese yen weakened 0.20 percent versus the greenback to 134.59 per dollar, having gained 3.5 percent last week, far off October’s low of 151.94.The yen’s ascent comes at a time when the spotlight has been on the drawbacks of prolonged monetary easing policy and ahead of a Bank of Japan leadership transition when governor Haruhiko Kuroda, regarded as a policty dove, ends his second term.
“The two forces coming from both sides can give the dollar/yen a bit more downside … there is still room for dollar/yen to test lower.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese cities ease curbs but full zero-COVID exit seen some way offDespite the easing of restrictions, many experts say China is unlikely to begin significant reopening before March at the earliest, given the need to ramp up vaccinations, especially among its vast elderly population.
Read more »
1,234 new Covid-19 cases detected–DOHThe Department of Health logged 1,234 new Covid-19 cases on Saturday, Dec. 3.
Read more »
Philippines logs 1,234 new COVID-19 casesThe Department of Health (DOH) on Saturday logged 1,234 new COVID-19 cases, while the active tally dropped to 18,430.
Read more »
DOH: Wasted COVID-19 jabs now at 44 million dosesCOVID-19 vaccines going to waste in the country due to expiration or mishandling continue to pile up.The Department of Health (DOH) on Friday said about 44 million doses had been wasted, of which
Read more »
DOH logs 1,173 new COVID-19 cases; active tally at 18,256The Department of Health (DOH) on Sunday recorded 1,173 new COVID-19 cases, increasing the total nationwide caseload to 4,041,023.
Read more »
Public health emergency remains due to COVID-19 variants threat –health expertInfectious diseases expert Dr. Rontgene Solante said Sunday that among the reasons the state of public health emergency is not yet lifted in the country is due to the threat of COVID-19 variants of concern.
Read more »