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US Dollar Rises on Haven Demand; Stocks Face Pressure
Shares were under downward pressure and the dollar climbed as markets opened in Asia on Monday to news of growing unrest in China over Covid restrictions. US stock futures and Australian equities fell. The greenback made some of its biggest early gains against the currencies of Australia and South Africa, both of which are exposed to trade with China. The offshore yuan dropped. Stock futures for Hong Kong already pointed toward declines even before protests in China worsened over the weekend. A gauge of US-listed Chinese shares fell on Friday. “The near-term clarity suggests we might see some derisking around ... (full story)
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