The dollar surged to its highest level in five months against other major currencies on Tuesday due to stronger-than-anticipated U.S. retail sales data, leading to concerns about potential intervention as the yen remained at its lowest level since 1990.
Meanwhile, the Chinese yuan steadied after initially dropping to its lowest point since November during early trading in Asia. This drop was reversed following the release of China's first-quarter GDP data, which exceeded expectations. This positive economic news provided support to policymakers who are working to restore confidence amidst an ongoing property market crisis.
Comments
Post a Comment