Asia FX sinks, yuan near 1-yr low after rate cut misses expectations
Investing.com-- Most Asian currencies fell on Monday, with China’s yuan leading losses after a smaller-than-expected cut from the People’s Bank, while anticipation of more U.S. monetary policy cues kept the dollar steady.
The yuan was among the worst performers for the day after the PBOC disappointed markets with cuts to the loan prime rate . The move raised questions over just how much headroom China has to keep loosening policy, amid worsening economic conditions.later this week. The dollar steadied after strong gains in the prior week, while Treasury yields also retained most recent gains.fell 0.4% on Monday and was trading just above its weakest level since August 2022. The currency also crossed the key 7.
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