Asia FX: yuan muted after weak Chinese PMI, yen stems losses on hot Tokyo CPI By Investing.com

Asian currencies mostly held steady on Halloween, but the dollar's dominance weighed heavily. The Chinese yuan barely budged despite dismal business activity data. In Japan, the yen gained some ground after a hotter-than-expected inflation report and hawkish comments from the Bank of Japan's governor. Despite the yen's momentum, it's been the weakest major Asian currency this month due to speculation about looser fiscal policies under the new prime minister. Most Asian currencies are still recovering from October losses amid trade tensions and global slowdown fears. Investors are waiting for more clarity from China and Japan on stimulus and rate decisions, and for progress in US-China trade negotiations.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.