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Asia Currencies Fight Back Against The Dollar As US Inflation Cools
Market Depth
The Chinese Yuan Isn't on a Rip-Rowing Recovery Rally
Weird Friday nonform payrolls and monthly options of expiry volatility affected the crowded yen short position./nAsia currency crosses rallied against the USD and the dollar strength was sharp./nThe Bank of Korea kept rates elevated and the dollar yen drop was relatively tepid./nThe Chinese Yuan weakened slightly against the dollar upon the CPI release./nThe Chinese Yuan has been strengthening but not to the same extent as the yen./nThe Chinese Yuan is focused on stabilizing its downside rather than large-scale stimulus measures./nThere is a simultaneous USD sell-off and Chinese efforts to support the Yuan.
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