The Magazine for Asian Investors
The dollar’s strength came after reports in China indicated that the government may move away from tighter regulation in relevant sectors to spur economic growth.
The US dollar index against other major currencies rose 0.04% to 93.84.
The yen rose 0.14% to 113.85 yen per dollar. The yen strengthened against the US dollar. Japan’s producer price index in September rose 0.9% year-on-year.
The South Korean won fell 0.26% to 1,164.94 won per dollar. As growth slowed, the country’s GDP rose 0.3% during the third quarter of the year, compared to the previous quarter.
The Australian dollar rose 0.18% to 0.7503.
The New Zealand dollar rose 0.07% to 0.7165. The ANZ-Roy Morgan Australia weekly consumer confidence index fell to 106.8, down from 107.
The yuan fell 0.06% to 6.3820 yuan per dollar.
In China, there is growing concern that energy shortages could lead to production stoppages and product shortages in the supply chain, which could impact growth.
The Chinese government is therefore accelerating the most urgent factors to get back on track for the country’s economy. Beijing wants to set the direction to rekindle consumption in the country after growth slowed to 4.9% in the third quarter of the year.
The pound fell 0.06% to 1.3759.
The baht weakened slightly after the dollar rose 0.21% at 33.120 baht per US dollar.