{"id":19734,"date":"2023-06-07T23:51:36","date_gmt":"2023-06-08T03:51:36","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/asia-fx-weakens-yuan-at-6-mth-low-as-state-banks-cut-rates\/"},"modified":"2023-06-07T23:51:37","modified_gmt":"2023-06-08T03:51:37","slug":"asia-fx-weakens-yuan-at-6-mth-low-as-state-banks-cut-rates","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=19734","title":{"rendered":"Asia FX weakens, yuan at 6-mth low as state banks cut rates"},"content":{"rendered":"
\n

Investing.com– Most Asian currencies inched lower on Thursday amid increased concerns over rising interest rates and slowing growth across the globe, while the dollar hovered near 11-week highs ahead of a Federal Reserve meeting next week.\u00a0<\/p>\n

The fell 0.1%, hitting a fresh six-month low against the dollar after several major Chinese state banks began cutting interest rates on yuan deposits, which could herald a broader interest rate cut by the People\u2019s Bank this month.<\/p>\n

Trade data released this week pointed to more economic headwinds for the country, as it struggles to recover from three years of COVID disruptions. China\u2019s unexpectedly shrank in May, while its hit a 13-month low amid softening global demand for Chinese goods.<\/p>\n

Focus is now on Chinese on Friday, which is expected to shed more light on a disinflationary trend in the country.<\/p>\n

Broader Asian currencies moved in a flat-to-low range, as fears of slowing economic growth and rising U.S. interest rates kept markets largely wary of risk-driven assets.\u00a0<\/p>\n

The rose 0.2% as the government flagged annual economic growth of below 1.6%, much lower than the 3.1% seen through 2022.\u00a0<\/p>\n

The was flat ahead of a later in the day, where the Reserve Bank is widely expected to hold interest rates steady, amid easing inflation in the country.<\/p>\n

The rose 0.2% on Thursday, taking some support from an upward revision to the country\u2019s . The reading pushed up optimism over some resilience in the Japanese economy, as it grapples with high inflation and softening global demand for exports.<\/p>\n

The rose 0.3% as expectations of more rate hikes by the Reserve Bank largely outweighed weak economic signals. Data on Thursday showed that the country’s and shrank through April.<\/p>\n

The reading comes after data showed that the Australian economy in the first quarter of 2023.<\/p>\n

Dollar rangebound ahead of Fed, CPI data<\/h2>\n

The dollar moved little in Asian trade on Thursday, with the and steadying just below 11-week highs.<\/p>\n

The greenback has fallen into a tight trading range amid uncertainty over a , with markets split over whether the central bank will carry out another rate hike.<\/p>\n

U.S. is also due next week, offering more cues on the economy and potentially factoring into the Fed\u2019s future interest rate decisions.\u00a0<\/p>\n<\/div>\n

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

Investing.com– Most Asian currencies inched lower on Thursday amid increased concerns over rising interest rates and slowing growth across the globe, while the dollar hovered near 11-week highs ahead of a Federal Reserve meeting next week.\u00a0 The fell 0.1%, hitting a fresh six-month low against the dollar after several major Chinese state banks began cutting […]<\/p>\n","protected":false},"author":1,"featured_media":19735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-19734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nAsia FX weakens, yuan at 6-mth low as state banks cut rates | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com-- Most Asian currencies inched lower on Thursday amid increased concerns over rising interest rates and slowing growth across the globe,\" \/>\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=19734\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia FX weakens, yuan at 6-mth low as state banks cut rates | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com-- Most Asian currencies inched lower on Thursday amid increased concerns over rising interest rates and slowing growth across the globe,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=19734\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-08T03:51:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-08T03:51:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/LYNXMPEDBI0CS_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\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=19734#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=19734\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Asia FX weakens, yuan at 6-mth low as state banks cut rates\",\"datePublished\":\"2023-06-08T03:51:36+00:00\",\"dateModified\":\"2023-06-08T03:51:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=19734\"},\"wordCount\":386,\"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=19734#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=19734\",\"url\":\"https:\/\/ifintechworld.com\/?p=19734\",\"name\":\"Asia FX weakens, yuan at 6-mth low as state banks cut rates | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-08T03:51:36+00:00\",\"dateModified\":\"2023-06-08T03:51:37+00:00\",\"description\":\"Investing.com-- Most Asian currencies inched lower on Thursday amid increased concerns over rising interest rates and slowing growth across the globe,\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=19734#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=19734\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=19734#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia FX weakens, yuan at 6-mth low as state banks cut rates\"}]},{\"@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 weakens, yuan at 6-mth low as state banks cut rates | iFintechWorld","description":"Investing.com-- Most Asian currencies inched lower on Thursday amid increased concerns over rising interest rates and slowing growth across the globe,","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=19734","og_locale":"en_US","og_type":"article","og_title":"Asia FX weakens, yuan at 6-mth low as state banks cut rates | iFintechWorld","og_description":"Investing.com-- Most Asian currencies inched lower on Thursday amid increased concerns over rising interest rates and slowing growth across the globe,","og_url":"https:\/\/ifintechworld.com\/?p=19734","og_site_name":"iFintechWorld","article_published_time":"2023-06-08T03:51:36+00:00","article_modified_time":"2023-06-08T03:51:37+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/LYNXMPEDBI0CS_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=19734#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=19734"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Asia FX weakens, yuan at 6-mth low as state banks cut rates","datePublished":"2023-06-08T03:51:36+00:00","dateModified":"2023-06-08T03:51:37+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=19734"},"wordCount":386,"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=19734#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=19734","url":"https:\/\/ifintechworld.com\/?p=19734","name":"Asia FX weakens, yuan at 6-mth low as state banks cut rates | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-08T03:51:36+00:00","dateModified":"2023-06-08T03:51:37+00:00","description":"Investing.com-- Most Asian currencies inched lower on Thursday amid increased concerns over rising interest rates and slowing growth across the globe,","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=19734#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=19734"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=19734#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Asia FX weakens, yuan at 6-mth low as state banks cut rates"}]},{"@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\/19734","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=19734"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/19734\/revisions"}],"predecessor-version":[{"id":19736,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/19734\/revisions\/19736"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/19735"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}