China's yuan hovers around 13-month low as weak data fuels easing bets

Quick Summary:

HONG KONG: China's yuan held near a 13-month low against the dollar on Tuesday, as traders anticipated additional easing measures following disappointing economic data, while focus has also shifted to the Federal Reserve's rate decision this week.

The Federal Reserve will announce its interest rate decision on Wednesday and interest rate futures imply a 94% chance of a 25 basis point cut.

It has been under pressure since early 2023 as domestic woes around a moribund property sector, anaemic consumption and falling yields drive capital flows out of yuan.

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Category: EconomyBusiness

Markets: MalaysiaChinaHong KongSingaporeUnited States

Topics: /Business/Business News US dollar Forex Federal Reserve Economic Yuan

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-17 @ 15:19:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 572 words

Reading Time: 4 minutes read

Sentences: 19 lines

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Copyright Owner: © The Star

News ID: 24495665

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