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Currency market action focused on developments with the Chinese yuan and the Hong Kong dollar.
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United States
Outside In
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Uncertainty unleashed by Trump 2.0 will exact a high price
Companies and countries alike are seeing hedging costs hit the roof amid a loss of trust and certainty in the US, the dollar and Treasuries.
2 hours ago
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Japan
Japan says its US$1 trillion in US Treasuries could be leverage in trade talks
2 May 2025 - 8:07AM
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Hong Kong housing
US-China trade war could hurt Hong Kong housing demand: think tank
24 Apr 2025 - 8:51PM
US-China relations
Letters
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Hopes for US-China cooperation rest on true understanding
Readers discuss the lack of understanding of Chinese aspirations in the West, how Trump’s trade war could backfire, and Hong Kong’s US dollar peg.
24 Apr 2025 - 11:30AM
Mainland China
China takes steps to boost yuan with overseas gold storage facilities
China to explore the internationalisation of physical delivery for specific products traded on the Shanghai Gold Exchange.
23 Apr 2025 - 5:50PM
US-China trade war
China rolls out plan to promote its own payment system as US trade war simmers
The country aims to reduce its reliance on the dollar-based global financial system as it confronts Washington’s aggressive trade policies.
22 Apr 2025 - 10:28PM
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Bonds
US Treasuries remain top haven asset despite tariffs, volatility, analysts say
US Treasuries’ performance fell 2.4 per cent in the week to April 11, the most for a five-day period since 2001.
22 Apr 2025 - 7:30AM
United States
Trump’s Fed feud sparks market turmoil, dollar dips, gold hits record high
Gold soared as investors fled US assets amid fears of Federal Reserve interference.
22 Apr 2025 - 8:51AM
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Yuan
Yuan trade settlements on rise amid ‘soaring volatility’ in US Treasury market
Washington’s policies seen opening door to greater yuan internationalisation, undermining but not removing US dollar’s dominance in global trade.
22 Apr 2025 - 12:13AM
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China-Africa relations
China-Africa trade makes ‘moderate’ gains despite US tariffs, currency weakness
First quarter customs data shows Chinese exports to Africa climbed 11.3% to US$45.92 billion while imports from the continent fell 9.4%.
21 Apr 2025 - 5:28PM
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US-China relations
Opinion
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China has a secret weapon in US trade war – the renminbi
Taking a leaf from Russia, China should make ‘unfriendly’ countries like the US use Chinese currency for trade transactions.
21 Apr 2025 - 8:31AM
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United States
Macroscope
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IMF’s tariff warnings may be too little, too late
The Trump administration has brought the world to the brink of a systemic financial and economic crisis.
19 Apr 2025 - 4:30PM
US-China relations
Opinion
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China can offer Trump the trillions of investment dollars America needs
If Trump’s Maga goal is genuine, cooperation with China – and opening the doors to Chinese investment – is his only rational choice.
16 Apr 2025 - 8:39PM
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Donald Trump
Trump’s trade war sends dollar to 6-month low, sparking investor concerns
The Bloomberg Dollar Spot Index has fallen about 6.1 per cent this year, on track for its biggest annual loss since 2017.
15 Apr 2025 - 1:19PM
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Banking & finance
Battered dollar drifts lower on tariff nerves
Investor confidence in the world’s reserve currency in question following stream of tariff pronouncements from US President Donald Trump.
14 Apr 2025 - 2:06PM
Hong Kong property
Hong Kong property market to feel the squeeze from Trump’s tariffs
A weaker yuan and a slowing economy could deter mainland homebuyers, but some analysts caution it is too early to draw conclusions.
13 Apr 2025 - 12:00PM
Hong Kong economy
Weaker yuan boon for Hong Kong shoppers but bane of retail sector: analysts
Beijing’s stimulus roll-out may also trigger more mainland consumption at the expense of Hong Kong’s retail, dining scene.
13 Apr 2025 - 4:13PM
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United States
Macroscope
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Trump is crashing the global system that crowned the dollar king
Tariff shock, loss of confidence in the dollar, stock market trauma and a widespread feeling of affront will only quicken de-dollarisation.
18 Apr 2025 - 6:24PM
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Americas and the Caribbean
Argentina seals US$20 billion IMF deal, tears down currency controls
The IMF will first disburse US$12 billion, with another US$2 billion by June, as Argentina’s central bank set to undo fixed currency peg.
12 Apr 2025 - 4:28PM
Hong Kong Monetary Authority (HKMA)
Hong Kong dollar gathers strength as stock investors drive demand
The local currency changed hands at 7.7623 per US dollar on Thursday afternoon, retracing from a high of 7.7560 on Wednesday.
10 Apr 2025 - 5:38PM
Yuan
Yen, Swiss franc rise on flight to safety as Trump’s tariffs roil markets
The dollar fell 0.63 per cent against the yen to 145.92, after tumbling more than 1 per cent earlier in the session.
7 Apr 2025 - 1:43PM
Yuan
China opts for stability over devaluation as tariff tremors give yuan a jolt
The yuan’s midpoint rate was set to a four-month low, but did not overshoot the 7.2 benchmark, suggesting devaluation not yet on the agenda.
7 Apr 2025 - 1:21PM
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US-China relations
US pressures Argentina’s Milei to scrap currency swap accord with China
Trump adviser says Washington would withhold support for Buenos Aires loan request to IMF if it reinforces China’s ‘position’ in Argentina.
5 Apr 2025 - 5:18AM
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Banking & finance
‘China’s Goldman’ bets on Hong Kong’s role as offshore yuan hub
With low rates in China, borrowing in yuan is now cheaper than in other currencies, CICC says.
4 Apr 2025 - 1:56PM
United States
Dow drops 1,600 as US stocks lead worldwide sell-off from Trump tariffs
Wall Street plunged as Trump’s new tariffs sparked fears of a global recession, with the S&P 500 and Dow Jones suffering their worst drops since 2020.
4 Apr 2025 - 8:14AM
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Trade
Dollar weakens on concern Trump’s tariffs would batter US economy
The Bloomberg Dollar Spot Index fell as much as 1 per cent to the lowest since November, with the US dollar sliding sharply versus the yen and Swiss franc.
3 Apr 2025 - 5:22PM
Indonesia
Can Danantara deliver? Indonesia’s sovereign fund vows to be ‘super transparent’
Investment chief Pandu Sjahrir is confident the new sovereign wealth fund can overcome market jitters and keep political meddling at bay.
31 Mar 2025 - 1:49PM
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Banking & finance
Macroscope
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World is ready to cut US dollar down to size – but not too quickly
The US dollar is too central to the global financial system for the so-called Mar-a-Lago Accord to find traction outside the US. But the search is on for alternatives.
29 Mar 2025 - 5:31PM
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