China's yuan weakened against the US dollar on Wednesday, driven by escalating Middle East conflicts boosting safe-haven demand for the greenback. Concerns over China's slowing economic growth also weighed on the yuan, prompting the PBOC to set a weaker midpoint rate. The dollar index has gained over recent sessions, nearing a one-week high amidst global uncertainties. This combination of a stronger US dollar and heightened geopolitical tensions could support international gold prices, potentially influencing local gold rates and the USD/PKR exchange rate in Pakistan.
بحوالہ / Source: www.brecorder.com