Asia FX: yuan boosted by China stimulus cheer, Aussie rises before RBA
Investing.com-- Most Asian currencies advanced on Tuesday with the Chinese yuan supported by Beijing announcing more stimulus measures, while the Australian dollar rose in anticipation of hawkish signals from the Reserve Bank.
Sentiment towards regional markets was further boosted by the Chinese government rolling out more stimulus measures aimed at shoring up laggard economic growth.Chinese markets rallied after the government announced a barrage of stimulus measures, with standouts being a reduction in reserve requirements for banks, along with lower mortgage rates to boost the property market.
But recent signs of sticky inflation and a robust labor market are expected to draw a hawkish stance from the central bank, with the RBA likely to signal rates will remain high for longer.dollar index futuresRisk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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