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China’s yuan inches lower, markets await US data and PBOC rate decision
China’s yuan inched lower against the dollar on Thursday, with investors anxiously awaiting fresh US economic data for guidance on the monetary policy trajectory in the world’s largest economy and an interest rate decision in China. Tuesday’s hotter-than-expected US consumer price index (CPI) reignited concerns that inflation could remain sticky, and traders said they will need more evidence from data including US retail sales, the producer prices index (PPI) report and jobless claims due later on Thursday to gauge the policy stance. Prior to the market opening, the People’s Bank of China (PBOC) set the ... (full story)