China’s yuan hit a two-week high against the US dollar on Thursday, with the American currency coming under pressure after US Federal Reserve Chair Jerome Powell said rate increases could be scaled back “as soon as December”. Photo: Bloomberg
US dollar strength has ‘reached peak’, China’s central bank says, as Fed considers scaling back rate hikes
- China’s yuan hit a two-week high against the US dollar on Thursday after US Federal Reserve Chair Jerome Powell said rate increases could be scaled back
- Article by China’s central bank said that possible slower interest rate increases by the US Federal Reserve could suppress the ‘upward momentum of the dollar’
China’s yuan hit a two-week high against the US dollar on Thursday, with the American currency coming under pressure after US Federal Reserve Chair Jerome Powell said rate increases could be scaled back “as soon as December”. Photo: Bloomberg
Corrected [1:39pm, 5 Dec, 2022]
- [1:39pm, 5 Dec, 2022]
In the eighth paragraph of this story, we incorrectly stated the interest rate was between 4.25 and 4.5 per cent.
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