The greenback has edged from a two-decade high this week and was a touch softer across the board in early Asia trade, while US bond yields have pulled back slightly as traders reckon aggressive near-term hikes will drag on longer-run US growth.
China's yuan was steady at 6.7953 per dollar in offshore trade, and seems to be finding a base after sliding more than 6 per cent in a month. China cut mortgage rates for first-home buyers over the weekend and yesterday, sources told Reuters that authorities had asked some financially healthy property developers to sell bonds in order to help boost market sentiment.
“A lot has been priced in and we're not getting any new news from Fed officials,” he said. “I think people are just taking some of that money off the table at the moment.”
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