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The US dollar extended its decline during trading here in Asian markets on Wednesday. The Australian dollar, New Zealand dollar, Canadian dollar, British pound, gold, the euro (albeit a little behind) and even the troubled yen rose against the big dollar. Late in the afternoon in the United States, news broke about the administration's efforts to seize some of Russia's $300 billion in frozen assets, spurring dollar selling.
The flow of news and data was curtailed. Australia's imports were reported to have fallen significantly in December, but this does not indicate the economy is firing on all cylinders.
However, there were also products from China.
- China will ease some visa requirements to make it easier for foreigners to travel for business, education and tourism purposes. This appears to be a move to stimulate the economy.
- People's Bank of China approves housing lease financing for group totaling 100 billion yuan
- Furthermore, as for the PBOC, today's benchmark interest rate setting rebounded against the yuan's depreciation, and the deviation from expectations was the largest since November. In other words, this was the strongest correction (for the renminbi) compared to expectations since November.
Offshore renminbi and CNH rose.
