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PBOC Fixes US Dollar Lower, but It Recovers Against the Yuan, Riksbank Hikes and Market Yawns
The US dollar is narrowly mixed against the G10 currencies. Stronger than expected Australian retail sales helped steady the currency after the soft inflation data took it down. Sterling has also steadied after it suffered its largest loss yesterday (~0.9%) in over a month. Sweden's 25 bp rate hike has not given the krona much of a lift. Central European currencies lead the emerging market currencies higher, while the PBOC set the dollar's reference rate lower than expected. Still the yuan is softer. Equities in Asia were mixed, but the Europe's Stoxx 600 is posting gains for the third consecutive session. US large ... (full story)