Yuan jumps, dollar pauses, sterling claws back some ground

The yuan surged on Friday on speculation that China will relax its strict anti-COVID measures, while the U.S. dollar paused in its heady ascent while staying set for its best week in over a month with U.S. interest rates expected to go higher.

สมัครslotxo What's interesting is that our web slot games are easy to play even for beginners who don't have the experience or are playing slot games here for the first time. 

The offshore yuan jumped more than 1 per cent in the Asia session to a one-week peak of 7.2441 per dollar, and last traded 7.2621.

Chinese markets received a broad boost from a Bloomberg News report that initial U.S. inspections of Chinese company audits had finished ahead of time. The report cited sources familiar with the inspection process, and raised hopes that U.S. authorities were satisfied.

But traders said the most potent boost to the yuan came from speculation that China could relax anti-COVID restrictions,which have been hobbling economic activity.

"The currency market is the most accessible barometer to digest China's risk sentiment without getting overly complicated," said Stephen Innes, managing partner at SPI Asset Management.

"CNH will tell you if investors are running hot or cold in China markets. And as is typically the case, this type of 'risk on' move indicated by the yuan will have a magnetic attraction across Asia markets."

Elsewhere, the dollar pulled back from an overnight surge that knocked the euro and the Aussie to their lowest in nearly two weeks.

The euro was up 0.29 per cent at $0.9778, while the kiwi gained 0.68 per cent to $0.5815.

The Australian dollar rose 0.86 per cent to $0.6342, further buoyed by the positive sentiment on China, as the Aussie is often used as a liquid proxy for the yuan.

Sterling was up 0.52 per cent at $1.1217, though that did little to erase its 2 per cent slide overnight after a sobering assessment of Britain's growth outlook and a shift in tone from the Bank of England on rate expectations.