On Thursday, the currency markets witnessed a state of stability for the US currency, while the Chinese yuan fell to its lowest level in two months, after more evidence that the weakness of the recovery in China after the Covid-19 epidemic casts a shadow on the global economic outlook.
The dollar began trading today, declining against the yen, affected by the pressure resulting from the decline in US Treasury yields after the slowdown in inflation, which gave dealers more confidence that the US Federal Reserve has finished raising interest rates.
But it reversed course and pared back losses against the Australian dollar and the euro in the wake of Chinese data revealing that consumer price inflation nearly leveled off last month, after an unexpected drop in imports during the week had already signaled warnings.
The yuan fell in local trading to 6.9413 against the dollar, a level not seen since the tenth of March.
The pound sterling witnessed a slight decrease to 1.2616 dollars, retreating from the highest level in a year, which it reached on Wednesday at 1.2679 dollars.
