💨 Abstract

The yuan weakened against the dollar on Wednesday as a new trade war between the U.S. and China sparked volatility in Chinese markets. The yen strengthened due to rising expectations of Bank of Japan rate hikes. The People's Bank of China set a stronger-than-expected yuan midpoint rate, but investors anticipate Beijing may allow for currency weakness in response to U.S. tariffs.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖