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| Version 1 | Version 2 |
|---|---|
| US dollar weakens to 3yr low against Chinese yuan | US dollar weakens to 3yr low against Chinese yuan |
| (2 months later) | |
| The US dollar has continued to depreciate, dropping to a three-year low versus the yuan on Monday as global investors look for safer assets amid China’s economic rebound from the Covid-19 pandemic. | The US dollar has continued to depreciate, dropping to a three-year low versus the yuan on Monday as global investors look for safer assets amid China’s economic rebound from the Covid-19 pandemic. |
| The greenback is on track for its second consecutive month of loss against a basket of currencies. The offshore yuan was trading at 6.3553 per dollar, its strongest level since May 2018, despite analysts’ warnings that the Chinese authorities aim to curb its rise. | The greenback is on track for its second consecutive month of loss against a basket of currencies. The offshore yuan was trading at 6.3553 per dollar, its strongest level since May 2018, despite analysts’ warnings that the Chinese authorities aim to curb its rise. |
| The dollar is down as investors weigh the likely impact of surging consumer price pressures and the Federal Reserve’s stance on US assets. The key PCE price index jumped 3.1% in its largest annual gain since July 1992, due to a recovery from the coronavirus pandemic and supply disruptions. | The dollar is down as investors weigh the likely impact of surging consumer price pressures and the Federal Reserve’s stance on US assets. The key PCE price index jumped 3.1% in its largest annual gain since July 1992, due to a recovery from the coronavirus pandemic and supply disruptions. |
| According to Ulrich Leuchtmann, Commerzbank's head of FX and commodity research, the market considers the current inflation levels to be transitional, while next year US inflation will remain at 2.5%. | According to Ulrich Leuchtmann, Commerzbank's head of FX and commodity research, the market considers the current inflation levels to be transitional, while next year US inflation will remain at 2.5%. |
| “That does not make it any easier pricing USD,” Leuchtmann said as quoted by Reuters. “Until we have more clarity the dollar is likely to have found a good balance at current levels,” he added. | “That does not make it any easier pricing USD,” Leuchtmann said as quoted by Reuters. “Until we have more clarity the dollar is likely to have found a good balance at current levels,” he added. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |