Yuan at 14-Month High as Fed-BOJ-PBOC Split — Crypto Impact
China’s yuan climbed to a fresh 14-month high against the dollar on Monday, adding another layer of complexity to an already turbulent macro environment for risk assets, including cryptocurrencies.
The world’s three largest central banks are now moving in distinctly different directions. The Federal Reserve just delivered a hawkish rate cut, the Bank of Japan is poised to raise rates this week, and China’s PBOC is navigating yuan strength amid a slowing domestic economy. For crypto markets caught in the crosscurrents of global liquidity flows, the stakes have rarely been higher.
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Yuan Surges on Dollar Weakness
The onshore yuan rose to 7.0498 per dollar as of 08:30 am UTC, its strongest level since October…
