Shares in the Asia-Pacific opened lower as investors look ahead to China’s industrial production and retail sales data for August.
"Equities and other risk-sensitive markets [will] struggle as it becomes clear that U.S. inflation pressures are well embedded and that risks to the fed funds rate lie to the upside," ANZ Research analysts wrote in a Friday note.Offshore yuan still weaker than 7 against dollar after crossing the key level
The Chinese yuan weakened past 7 against the U.S. dollar for the first time since July 2020 overnight.The onshore yuan has been inching closer to the 7 level, but has not crossed it this year.The Chinese yuan weakened past 7 against the U.S. dollar for the first time since July 2020 overnight.The onshore yuan has been inching closer to the 7 level, but has not crossed it this year.The Japanese yen has fallen sharply against the U.S dollar this year and is now hovering near 24-year lows.
Amid reports that that Japan may intervene to prop up the currency, CNBC Pro spoke with foreign exchange analysts for their thoughts on intervention and where they see the dollar-yen heading next.
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