Yuan Eases from Peak as PBOC Manages Appreciation; Dollar Weakness Persists

The yuan traded 0.03% lower at 6.7238 per dollar after an eight-week rally, with the PBOC guiding it lower than market expectations. This signals the central bank's intent to manage the pace of appreciation, leaning against rapid one-way moves. Concurrently, the dollar's six-currency index struggles near multi-month lows at 98.82, driven by "dollar-debasement" trades. Persistent dollar weakness could support international gold prices and potentially influence USD/PKR stability.

بحوالہ / Source: www.brecorder.com