, bouncing back from Friday's near-three-week low of 92.997. The index saw its biggest loss in six weeks on Friday on hopes that a deal for new U.S. stimulus would be reached.
But Trump’s offer drew criticism from several Senate Republicans, many of whom are uneasy about the nation’s growing debt and concerned a deal would cost Republicans support in the upcoming presidential election, denting the risk-on mood. “On the whole, the big picture has not changed that much,” said Kyosuke Suzuki, director of forex at Societe Generale.The offshore Chinese yuan dropped after the People’s Bank of China said it will lower the reserve requirement ratio for financial institutions when conducting some foreign exchange forwards trading.
“The authorities have not stood in the way of yuan strength, but this move could be seen as a sign that they want to slow the pace of appreciation,” wrote Khoon Goh, head of Asia Research at ANZ in Singapore.
Find out why we want stable super powers currency ie the triage of the west asia and Russian rubles
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