China’s Efforts to Defend Yuan Intensify as Costs Rise in Hong Kong
China’s Efforts to Defend Yuan Intensify as Costs Rise in Hong Kong Traders betting against the yuan are facing obstacles as China seeks to make it more expensive to do so in Hong Kong. This week, borrowing costs for yuan between banks in Hong Kong surged, reaching a five-year high for three-month contracts. This increase in costs makes it more difficult and costly for traders to borrow the Chinese currency in overseas markets and sell […]
Japan’s Wholesale Inflation Slows for 8th Month, Stays Above Target
Japan’s Wholesale Inflation Slows for 8th Month, Stays Above Target In the latest economic update from Japan, the nation’s wholesale inflation rate exhibited a continuing trend of deceleration in August, marking the eighth consecutive month of decline. This development is likely to be received with relief by households and retailers alike, who have been grappling with the ramifications of earlier sharp spikes in the costs of raw material imports. The key metric in focus here […]
USD/CAD Steady Above 1.3500s, Eyes on US CPI Report
USD/CAD Steady Above 1.3500s, Eyes on US CPI Report In the early hours of Wednesday’s Asian trading session, the USD/CAD currency pair found itself in a stable position, hovering just above the mid-1.3500s range. This marks a phase of consolidation for the pair, following its recent descent to a one-and-a-half-week low that was recorded just the day before. One of the key factors influencing the exchange rate dynamics in this context is the robust performance […]