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Dollar Slips as Easing COVID-19 Curbs in China Lift Sentiment

Started by Epoch-Times-Bot, Dec 05, 2022, 07:00 AM

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Epoch-Times-Bot

Dec 05, 2022, 07:00 AM
Dollar Slips as Easing COVID-19 Curbs in China Lift Sentiment

SINGAPORE—The dollar slid across the board on Monday as traders piled into riskier assets after more Chinese cities eased some of their COVID-19-related restrictions, stoking hopes of an eventual reopening of the world’s second-biggest economy.
Financial hub Shanghai and Urumqi in the far west were among the cities that announced an easing of coronavirus curbs over the weekend following recent, unprecedented protests against the regime’s uncompromising “dynamic zero-COVID” strategy.
The dollar weakened below 7.0 yuan in offshore trade, while the onshore yuan jumped roughly 1.4 percent to as high as 6.9507 on Monday morning, its strongest since Sept. 13.
The dollar index, which measures the currency against six major peers including the yen and euro, was down 0.268 percent at 104.19, its lowest since June 28....

Source: Dollar Slips as Easing COVID-19 Curbs in China Lift Sentiment

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