{"id":814,"date":"2023-08-14T14:25:10","date_gmt":"2023-08-14T11:25:10","guid":{"rendered":"https:\/\/invest24world.com\/?p=814"},"modified":"2023-08-31T13:59:01","modified_gmt":"2023-08-31T10:59:01","slug":"asia-fx-weakens-ahead-of-u-s-inflation-yuan-supported-by-pboc","status":"publish","type":"post","link":"https:\/\/22-preview.freshtone.ru\/sv\/asia-fx-weakens-ahead-of-u-s-inflation-yuan-supported-by-pboc\/","title":{"rendered":"Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC"},"content":{"rendered":"\r\n<p>Most Asian currencies edged lower on Thursday as investors turned broadly risk-averse ahead of key U.S. inflation data due later in the day, while the Chinese yuan rose sharply on more support from the central bank.<\/p>\r\n\r\n\r\n\r\n<p>The dollar steadied near five-week highs, benefiting from increased demand as markets positioned for a potentially stronger U.S. consumer price index (CPI) reading.<\/p>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/indices\/usdollar\">dollar index<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/us-dollar-index\">dollar index futures<\/a>\u00a0both steadied in Asian trade, and were up about 0.5% this week.<\/p>\r\n\r\n\r\n\r\n<p><a href=\"https:\/\/www.investing.com\/economic-calendar\/cpi-733\">CPI inflation<\/a>\u00a0is expected to have increased slightly in July from the prior month, potentially attracting a hawkish stance from the Federal Reserve as it moves to bring inflation within its target range.<\/p>\r\n\r\n\r\n\r\n<p>Fears of a stronger reading kept most traders clear of high-yielding, risk-heavy Asian currencies. The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-krw\">South Korean won<\/a>\u00a0fell 0.2%, while the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-twd\">Taiwan dollar<\/a>\u00a0shed 0.3%.<\/p>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-jpy\">Japanese yen<\/a>\u00a0fell 0.1%, hovering around a one-month low, even as data showed that\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/ppi-35\">producer inflation<\/a>\u00a0rose slightly more than expected in the 12 months to July.<\/p>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/aud-usd\">Australian dollar<\/a>\u00a0rose 0.2%, but was nursing steep losses over the past three weeks on an increasingly dovish outlook for local interest rates.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\">Chinese yuan surges as PBOC support offsets growing risks<\/h3>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-cny\">Chinese yuan<\/a>\u00a0was a key outlier among Asian currencies on Thursday, rising 0.6% after the People\u2019s Bank of China set a stronger-than-expected daily midpoint. Media reports also suggested that the Chinese government had begun selling dollars on the open market to buoy the yuan this week.<\/p>\r\n\r\n\r\n\r\n<p>The outlook for the Chinese currency soured substantially as weak\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/cpi-459\">inflation<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/exports-595\">trade<\/a>\u00a0data pointed to more economic headwinds for China, as a post-COVID rebound runs out of steam.<\/p>\r\n\r\n\r\n\r\n<p>Sentiment towards China also worsened after U.S. President Joe Biden signed an executive order outlining more restrictions on U.S. investment in China\u2019s technology sector.<\/p>\r\n\r\n\r\n\r\n<p>The move is the latest in an ongoing trade tiff between the world\u2019s largest economies, and could draw retaliatory measures from China.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\">Indian rupee firms ahead of potentially hawkish RBI<\/h3>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-inr\">Indian rupee<\/a>\u00a0rose 0.1% on Thursday, recovering from a five-month low as markets awaited a\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/interest-rate-decision-597\">Reserve Bank of India<\/a>\u00a0(RBI) meeting later in the day.<\/p>\r\n\r\n\r\n\r\n<p>While the RBI is expected to keep interest rates steady, a recent uptick in Indian inflation pushed up expectations of more hawkish signals from the central bank.<\/p>\r\n\r\n\r\n\r\n<p>Indian\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/cpi-973\">CPI inflation<\/a>\u00a0data for July is due on Friday, and is expected to have risen after a stronger-than-expected reading in June.<\/p>\r\n\r\n\r\n\r\n<p>Source: https:\/\/www.investing.com\/news\/forex-news\/asia-fx-weakens-ahead-of-us-inflation-yuan-supported-by-pboc-3150604<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Most Asian currencies edged lower on Thursday as investors turned broadly risk-averse ahead of key U.S. inflation data due later in the day, while the Chinese yuan rose sharply on more support from the central bank. The dollar steadied near five-week highs, benefiting from increased demand as markets positioned for a potentially stronger U.S. consumer [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpautop"],"translation":{"provider":"WPGlobus","version":"2.10.10","language":"sv","enabled_languages":["en","nl","es","sv","fr"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"nl":{"title":false,"content":false,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"sv":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false}}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC - 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