China will launch a long-expected pilot scheme to allow cross-border investment in wealth management products (WMPs) by residents in the semi-autonomous economies of Hong Kong and Macau, the People’s Bank of China (PBOC) said in an online statement Monday.
The US dollar rose 0.2% against the yuan in onshore trade to 7.1031 on Thursday (May 21) as investors focused on fresh tensions between the United States and China.
The euro traded lower on Friday (Feb. 14), dropping to the lowest level against the dollar since May 2017, extending its recent losses, following the release of Germany’s underwhelming growth figures.
The Japanese yen fell against its major counterparts in the Asian session on Thursday as the United States and Iran moved away from an all-out conflict. The two sides dialled down their rhetoric following days of heightened tensions caused by the US assassination of a to
The Australian dollar rallied 0.4% at $0.6789 on the first trading day of December after an unexpected rebound in Chinese manufacturing activity helped offset investor anxiety over world growth.
Most CEE currencies are seen returning to gains over the next 12 months, lifted by solid growth, according to a Reuters poll among analysts.
China's yuan strengthened on Monday (Oct. 14), after a breakthrough in the US-Chinese trade talks. The onshore spot market opened at 7.0827 per dollar and touched 7.0494 at one point in morning trade, a level last seen on Aug.19.
Argentina, Latin America’s third-largest economy, imposed currency controls on Sunday (Sept. 1) amid a debt crisis that has battered the peso.
Investors continued to flock to the Swiss franc in search of a safe haven on Friday (Aug. 9) as the US-China trade war escalation did not abate.
The New Zealand dollar fell on Tuesday (23 July) after the Reserve Bank of New Zealand (RBNZ) was reported to be taking another look at its strategy for “unconventional monetary policy.”