{"id":16000,"date":"2023-05-31T01:16:20","date_gmt":"2023-05-31T05:16:20","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/asia-fx-dips-yuan-hits-6-mth-low-as-chinese-economic-rebound-slows\/"},"modified":"2023-05-31T01:16:21","modified_gmt":"2023-05-31T05:16:21","slug":"asia-fx-dips-yuan-hits-6-mth-low-as-chinese-economic-rebound-slows","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=16000","title":{"rendered":"Asia FX dips, yuan hits 6-mth low as Chinese economic rebound slows"},"content":{"rendered":"
\n

Investing.com — Most Asian currencies fell on Wednesday, with the Chinese yuan trading at a six-month low on more signs of a slowing economic recovery in the country, while the dollar firmed ahead of a vote to raise the U.S. debt ceiling.<\/p>\n

The fell 0.3%, crossing the 7.1 level for the first time since late-November, as data showed shrank for a second consecutive month in May, and at a sharper pace than the prior month.<\/p>\n

The slid 0.4% to 7.1160 against the dollar, indicating weak foreign sentiment towards the Chinese currency.<\/p>\n

Overall growth in also contracted, indicating that the Chinese economy was cooling after rebounding in the first quarter of 2023. China\u2019s manufacturing sector – a key driver of local growth, is still struggling to recover despite the lifting of anti-COVID measures earlier this year.<\/p>\n

The yuan was also set to lose nearly 3% in May, making it the worst-performing Asian currency for the month. Still, some analysts speculate that China may be keeping the yuan weak in order to bolster export revenues, amid softening growth.<\/p>\n

Anxiety over China spilled over into broader Asian markets, given their dependence on the country as a trading hub. The , which has heavy trade exposure to China, fell 0.5%, while the sank 0.4% even as data showed moved back towards 30-year highs in April.<\/p>\n

The strong inflation reading came just after Governor Philip Lowe warned that sticky prices could invite more rate hikes by the central bank.<\/p>\n

The fell 0.3% as and data disappointed for April, pointing to more economic headwinds in the coming months.<\/p>\n

Weak and data also weighed on the , which was sitting close to six-month lows against the dollar.<\/p>\n

The U.S. dollar, on the other hand, firmed in Asian trade as the weak Chinese data pushed up demand for safe havens. The and added about 0.2% each, trading close to 10-week highs hit on Monday.<\/p>\n

Markets were also on edge over a vote to raise the debt ceiling, after several members of Congress voiced discontent over a bipartisan agreement to raise the government\u2019s spending limit.<\/p>\n

The vote, which is set to occur later in the day, comes less than a week before a June 5 deadline for a U.S. default.<\/p>\n

Focus was also on data due on Friday, amid that the Federal Reserve will hike interest rates further in June.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com — Most Asian currencies fell on Wednesday, with the Chinese yuan trading at a six-month low on more signs of a slowing economic recovery in the country, while the dollar firmed ahead of a vote to raise the U.S. debt ceiling. The fell 0.3%, crossing the 7.1 level for the first time since late-November, […]<\/p>\n","protected":false},"author":1,"featured_media":16001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-16000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nAsia FX dips, yuan hits 6-mth low as Chinese economic rebound slows | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com -- Most Asian currencies fell on Wednesday, with the Chinese yuan trading at a six-month low on more signs of a slowing economic recovery in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=16000\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia FX dips, yuan hits 6-mth low as Chinese economic rebound slows | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com -- Most Asian currencies fell on Wednesday, with the Chinese yuan trading at a six-month low on more signs of a slowing economic recovery in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=16000\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-31T05:16:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-31T05:16:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1685510180_LYNXMPEE650J2_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"559\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=16000#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=16000\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Asia FX dips, yuan hits 6-mth low as Chinese economic rebound slows\",\"datePublished\":\"2023-05-31T05:16:20+00:00\",\"dateModified\":\"2023-05-31T05:16:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=16000\"},\"wordCount\":401,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Forex\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=16000#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=16000\",\"url\":\"https:\/\/ifintechworld.com\/?p=16000\",\"name\":\"Asia FX dips, yuan hits 6-mth low as Chinese economic rebound slows | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-31T05:16:20+00:00\",\"dateModified\":\"2023-05-31T05:16:21+00:00\",\"description\":\"Investing.com -- Most Asian currencies fell on Wednesday, with the Chinese yuan trading at a six-month low on more signs of a slowing economic recovery in\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=16000#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=16000\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=16000#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia FX dips, yuan hits 6-mth low as Chinese economic rebound slows\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Asia FX dips, yuan hits 6-mth low as Chinese economic rebound slows | iFintechWorld","description":"Investing.com -- Most Asian currencies fell on Wednesday, with the Chinese yuan trading at a six-month low on more signs of a slowing economic recovery in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=16000","og_locale":"en_US","og_type":"article","og_title":"Asia FX dips, yuan hits 6-mth low as Chinese economic rebound slows | iFintechWorld","og_description":"Investing.com -- Most Asian currencies fell on Wednesday, with the Chinese yuan trading at a six-month low on more signs of a slowing economic recovery in","og_url":"https:\/\/ifintechworld.com\/?p=16000","og_site_name":"iFintechWorld","article_published_time":"2023-05-31T05:16:20+00:00","article_modified_time":"2023-05-31T05:16:21+00:00","og_image":[{"width":800,"height":559,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1685510180_LYNXMPEE650J2_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=16000#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=16000"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Asia FX dips, yuan hits 6-mth low as Chinese economic rebound slows","datePublished":"2023-05-31T05:16:20+00:00","dateModified":"2023-05-31T05:16:21+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=16000"},"wordCount":401,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Forex"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=16000#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=16000","url":"https:\/\/ifintechworld.com\/?p=16000","name":"Asia FX dips, yuan hits 6-mth low as Chinese economic rebound slows | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-31T05:16:20+00:00","dateModified":"2023-05-31T05:16:21+00:00","description":"Investing.com -- Most Asian currencies fell on Wednesday, with the Chinese yuan trading at a six-month low on more signs of a slowing economic recovery in","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=16000#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=16000"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=16000#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Asia FX dips, yuan hits 6-mth low as Chinese economic rebound slows"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/16000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16000"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/16000\/revisions"}],"predecessor-version":[{"id":16002,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/16000\/revisions\/16002"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/16001"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}