Renminbi’s jump portends dollar woes ahead
A weaker dollar is also driving demand for alternatives, with gold up and digital currency Ether surging
04 January 2021 - 13:37
The dollar sunk against Asia’s emerging-market currencies on the first trading day of 2021, a sign of the growing risk appetite among investors as economic data improved and vaccines are rolled out.
The yuan and Indonesian rupiah led the charge against the greenback, with the Chinese currency surging to its strongest since June 2018 after a slew of improving purchasing managers indexes across the region bolstered risk sentiment. Assets from stocks to gold and cryptocurrencies also rallied...
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