{"id":46587,"date":"2023-08-10T00:34:39","date_gmt":"2023-08-10T04:34:39","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/asia-fx-weakens-ahead-of-u-s-inflation-yuan-supported-by-pboc\/"},"modified":"2023-08-10T00:34:41","modified_gmt":"2023-08-10T04:34:41","slug":"asia-fx-weakens-ahead-of-u-s-inflation-yuan-supported-by-pboc","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46587","title":{"rendered":"Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC"},"content":{"rendered":"
\n

Investing.com– 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.\u00a0<\/p>\n

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>\n

The and both steadied in Asian trade, and were up about 0.5% this week.\u00a0<\/p>\n

is 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.\u00a0<\/p>\n

Fears of a stronger reading kept most traders clear of high-yielding, risk-heavy Asian currencies. The fell 0.2%, while the shed 0.3%.<\/p>\n

The fell 0.1%, hovering around a one-month low, even as data showed that rose slightly more than expected in the 12 months to July.<\/p>\n

The rose 0.2%, but was nursing steep losses over the past three weeks on an increasingly dovish outlook for local interest rates.<\/p>\n

Chinese yuan surges as PBOC support offsets growing risks\u00a0<\/h2>\n

The was 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>\n

The outlook for the Chinese currency soured substantially as weak and data pointed to more economic headwinds for China, as a post-COVID rebound runs out of steam.<\/p>\n

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.\u00a0<\/p>\n

The move is the latest in an ongoing trade tiff between the world\u2019s largest economies, and could draw retaliatory measures from China.\u00a0<\/p>\n

Indian rupee firms ahead of potentially hawkish RBI\u00a0<\/h2>\n

The rose 0.1% on Thursday, recovering from a five-month low as markets awaited a (RBI) meeting later in the day.\u00a0<\/p>\n

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.\u00a0<\/p>\n

Indian data for July is due on Friday, and is expected to have risen after a stronger-than-expected reading in June.\u00a0<\/p>\n<\/div>\n

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

Investing.com– 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.\u00a0 The dollar steadied near five-week highs, benefiting from increased demand as markets positioned for a potentially stronger U.S. […]<\/p>\n","protected":false},"author":1,"featured_media":46588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-46587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nAsia FX weakens ahead of U.S. inflation, yuan supported by PBOC | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com-- Most Asian currencies edged lower on Thursday as investors turned broadly risk-averse ahead of key U.S. inflation data due later in the\" \/>\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=46587\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com-- Most Asian currencies edged lower on Thursday as investors turned broadly risk-averse ahead of key U.S. inflation data due later in the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=46587\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-10T04:34:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-10T04:34:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/LYNXMPEE01050_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"728\" \/>\n\t<meta property=\"og:image:height\" content=\"485\" \/>\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=46587#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=46587\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC\",\"datePublished\":\"2023-08-10T04:34:39+00:00\",\"dateModified\":\"2023-08-10T04:34:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=46587\"},\"wordCount\":391,\"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=46587#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=46587\",\"url\":\"https:\/\/ifintechworld.com\/?p=46587\",\"name\":\"Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-10T04:34:39+00:00\",\"dateModified\":\"2023-08-10T04:34:41+00:00\",\"description\":\"Investing.com-- Most Asian currencies edged lower on Thursday as investors turned broadly risk-averse ahead of key U.S. inflation data due later in the\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=46587#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=46587\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=46587#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC\"}]},{\"@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 ahead of U.S. inflation, yuan supported by PBOC | iFintechWorld","description":"Investing.com-- Most Asian currencies edged lower on Thursday as investors turned broadly risk-averse ahead of key U.S. inflation data due later in the","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=46587","og_locale":"en_US","og_type":"article","og_title":"Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC | iFintechWorld","og_description":"Investing.com-- Most Asian currencies edged lower on Thursday as investors turned broadly risk-averse ahead of key U.S. inflation data due later in the","og_url":"https:\/\/ifintechworld.com\/?p=46587","og_site_name":"iFintechWorld","article_published_time":"2023-08-10T04:34:39+00:00","article_modified_time":"2023-08-10T04:34:41+00:00","og_image":[{"width":728,"height":485,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/LYNXMPEE01050_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=46587#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=46587"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC","datePublished":"2023-08-10T04:34:39+00:00","dateModified":"2023-08-10T04:34:41+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=46587"},"wordCount":391,"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=46587#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=46587","url":"https:\/\/ifintechworld.com\/?p=46587","name":"Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-10T04:34:39+00:00","dateModified":"2023-08-10T04:34:41+00:00","description":"Investing.com-- Most Asian currencies edged lower on Thursday as investors turned broadly risk-averse ahead of key U.S. inflation data due later in the","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=46587#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=46587"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=46587#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Asia FX weakens ahead of U.S. inflation, yuan supported by PBOC"}]},{"@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\/46587","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=46587"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/46587\/revisions"}],"predecessor-version":[{"id":46589,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/46587\/revisions\/46589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/46588"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}