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Yuan hits fresh multi-year high as markets await Fed, BOJ decisions
HONG KONG: China’s yuan inched higher to a fresh multi-year peak against the US dollar on Monday after the country’s central bank set a stronger daily guidance, while investors awaited policy decisions from the Federal Reserve and the Bank of Japan. The yuan strengthened to a high of 6.7039 per dollar in early trade, its strongest level since February 2, 2023, before easing to 6.7074. The offshore yuan traded at 6.7074 yuan per dollar, up about 0.03% in Asian trading. Global currency markets were largely muted as investors braced for possible rate hikes from the Fed and BOJ in a pivotal wee...
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