- Weaker CNY can drag Asian and commodity currencies weaker and keep the Dollar bid – ING
Market news
14 August 2023
Weaker CNY can drag Asian and commodity currencies weaker and keep the Dollar bid – ING
The Dollar starts the week on the strong side. Economists at ING analyze Greenback’s outlook.
High US rates + poor overseas environment = strong Dollar
High US bond yields and what seems to be a deteriorating environment in the Chinese financial sector are weighing on risk assets.
Unless Chinese authorities can surprise with some powerful stimulus measures, the weaker Chinese Renminbi can drag Asian and commodity currencies weaker and keep the Dollar bid.
US Dollar Index (DXY) risks pushing up the 103.50/103.60 area this week.
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