Dollar, yuan steady
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With the US dollar sagging, China’s central bank has strengthened the midpoint rate for the country’s currency in recent days.
SHANGHAI: China’s yuan eased against the US dollar on Friday, retreating from a more than two-week high reached overnight, as the greenback rebounded after Israel launched strikes on Iran. Escalating tensions in the Middle East dented global risk appetite, prompting investors to flock to safe-haven assets such as gold and the US dollar.
JPMorgan lifted its end-of-year forecast for China's onshore yuan spot price on Wednesday, citing moderating risks around the U.S. trade war and a broader global theme of so-called de-dollarisation.
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USD/CNY dipped on Thursday as Yuan firmed as the provisional trade truce between the U.S. and China boosted optimism that further tariff escalation could be avoided. Officials from the U.S. and China said Tuesday
SHANGHAI (Reuters) - China's yuan slipped against the dollar while falling to a near two-year low versus its major trading partners on Friday, as U.S. President Donald Trump and Chinese leader Xi Jinping held a much-anticipated call but left key issues that have stoked tensions between the world's two largest economies unresolved.
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(Yicai) June 11 -- Chinese yuan-denominated bonds have become a stable asset to invest in a time when traditional safe-haven assets, such as the US dollar and US Treasury bonds, have been out for sale, according to the head of China Debt at Pictet Asset Management.
The Indian rupee is expected to open little changed on Wednesday and hold a narrow range, as traders monitor the Chinese yuan for cues amid China-U.S. trade developments and keep an eye on flows.