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Asia FX Rallies on China Reopening, Yuan at Over 4-Mth High

Most Asian currencies shot up on Monday, with the Chinese yuan hitting a four-month high after the country reopened its international borders, while hopes of a less hawkish rhetoric from the Federal Reserve also weighed on the dollar and supported regional units. The yuan jumped 0.7% to 6.7912 against the dollar, its strongest level since […]

Asia FX Rallies on China Reopening Fervor, Dollar Hits 5-Month Low

Most Asian currencies rose sharply on Monday as more Chinese cities relaxed some anti-COVID measures, while improving risk appetite and expectations of smaller rate hikes saw the dollar sink to an over five-month low. The yuan was the best performer for the day, rising 0.9% to 6.9628- its strongest level against the dollar since mid-September. […]

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