{"id":2000711,"date":"2023-08-14T23:38:02","date_gmt":"2023-08-15T03:38:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-firm-yuan-slides-after-china-unexpectedly-cuts-rates\/"},"modified":"2023-08-14T23:40:57","modified_gmt":"2023-08-15T03:40:57","slug":"dollar-firm-yuan-slides-after-china-unexpectedly-cuts-rates","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-firm-yuan-slides-after-china-unexpectedly-cuts-rates\/","title":{"rendered":"China&#8217;s surprise rate cut causes yuan to decline, while dollar remains strong."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdollar-firm-yuan-slides-after-china-unexpectedly-cuts-rates%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2000711&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Safe-Haven Dollar Stays Firm as \u200dYuan Sinks<\/h2>\n<p>By \u200cBrigid Riley\u200b and Kevin Buckland<\/p>\n<p>TOKYO (Reuters)\u200c \u2013 The safe-haven dollar stayed \u200dfirm against major peers while the yuan \u2062sank to a nine-month trough\u2062 after China\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-firm-yuan-slides-after-china-unexpectedly-cuts-rates\/\" title=\"China's surprise rate cut causes yuan to decline, while dollar remains strong.\">central\u2064 bank unexpectedly cut key policy rates<\/a> for a second time in three months on\u200d Tuesday to shore up the country\u2019s sputtering \u200deconomy.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The yuan weakened as\u2064 far as 7.3115 per \u2064dollar\u2064 for the first \u2064time\u2062 since Nov. 4\u2063 in offshore trading, before bouncing \u200bback \u200cas major state-owned \u2064banks were seen selling dollars \u200bto support the local currency.<\/p>\n<p>The dollar index, \u2064which\u2063 measures the currency against six major peers including the euro and yen, was about flat at 103.13 after hitting a 1 \u20631\/2-month high \u2063at 103.46 \u200con Monday, buoyed by demand for the safest assets following a spate of disappointing Chinese economic \u2064indicators.<\/p>\n<p>Chinese data on industrial output and retail sales released\u2064 shortly after the PBOC\u2019s rate\u200c cut also fell \u2062short of economists\u2019 \u200dforecasts.<\/p>\n<p>The Australian \u200cdollar, which often acts as a proxy trade \u200con\u200b China, dipped as much as 0.39% to $0.6463 but failed\u200b to breach Monday\u2019s nine-month low of $0.6454. It last sat\u200d 0.13% weaker at $0.6479.<\/p>\n<p>In addition to\u200b the burden \u200cfrom China\u2019s economic troubles, minutes from the Reserve Bank of Australia\u2019s \u2063latest meeting released on Tuesday suggested local rates may\u200d have already peaked, \u2062while soft wages \u2062growth also bolstered the case for a \u200cpause.<\/p>\n<p>\u201cWe\u2019re fast approaching \u2064a phase where bets \u2064will be on for\u200c another round of \u2062stimulus\u201d\u200b in China, said Matt Simpson, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economists-warn-stagflation-is-back\/\" title=\"Economists Warn \u2018Stagflation\u2019 Is Back\">senior market analyst<\/a> at City Index.<\/p>\n<p>\u201cThere\u2019s\u2064 a floor\u200c under (the Aussie dollar), and \u200bany rumours of stimulus could light the \u2063bullish match for these markets\u200b to bounce.\u201d <\/p>\n<p>Elsewhere, the \u2064U.S. dollar pushed to a \u2062fresh \u200dnine-month high of 145.60 yen before retreating to \u200cbe down 0.09% \u200dat 145.435. \u2062 <\/p>\n<p>Traders are looking for any signs of intervention, after the dollar\u2019s surge above 145 last autumn \u200btriggered \u2064the first yen buying intervention in a generation.<\/p>\n<\/p>\n<p>  \u2062(Reporting by Brigid Riley and Kevin Buckland; Editing by Jamie Freed)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/dollar-firm-yuan-slides\/attachment\/illustration-shows-chinese-yuan-and-u-s-dollar-banknotes\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Grassroots Fight Over Parental\u200b and Transgender Children&#8217;s Rights in New Jersey<\/h3>\n<p>A grassroots fight over parental \u200cand transgender children\u2019s rights is brewing in New Jersey. One America\u2019s Caitlin Sinclair has \u2064more.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Grand Jury May Indict\u200c Trump in Georgia<\/h3>\n<p>A Grand Jury may be indicting Trump in \u2062Georgia, while developers could\u200d be trying to cash in on\u2062 the recent \u200bHawaii fire.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Criminal\u200c Charges Against Donald Trump Briefly\u2064 Appear in Georgia<\/h3>\n<p>A\u200c list of criminal charges \u200cin Georgia against 45th President Donald Trump briefly \u2063appeared Monday on a Fulton County website but the charges were promptly removed.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Mob of\u2062 Robbers Captured Inside Popular Los Angeles Mall<\/h3>\n<p>Shocking video captured a \u200bmob of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/la-video-captures-mob-of-criminals-robbing-nordstrom\/\" title=\"LA: Video shows gang robbing Nordstrom\">robbers inside<\/a> a very <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/l-a-video-captures-mob-of-criminals-robbing-nordstrom\/\" title=\"Video shows gang robbing Nordstrom in L.A.\">popular mall<\/a> \u200din\u200c Los Angeles.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Livestream Sales Host in China Sees\u2062 Rapid Career Growth<\/h3>\n<p>By \u200bCasey Hall SHANGHAI (Reuters) \u2013 Only a few months after beginning her\u200c career as a livestream sales host in January, Zhang\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Clorox Takes Systems Offline After Unauthorized Activity<\/h3>\n<p>(Reuters) \u2013 Clorox said \u200don Monday it had taken certain systems offline \u200cafter unauthorized activity disrupted some business operations. It said it\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s central bank unexpectedly lowered key policy rates for the second time in three months, causing the yuan to drop to a nine-month low. Meanwhile, the safe-haven dollar remained strong against other major currencies.<\/p>\n","protected":false},"author":66,"featured_media":2000712,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2000711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2000711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2000711"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2000711\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2000712"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2000711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2000711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2000711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}