0310 GMT - The Chinese yuan is weaker along with most other Asian currencies including the Singapore dollar. The PBOC Gov. Pan Gongsheng earlier today said that the central bank will lower both policy rates and interest rates on monetary tools. "The timing of the cut might raise an eyebrow or two, given it was announced within hours of reports that the U.S. and China will hold talks this weekend," says Matt Simpson, senior market analyst at StoneX, in an email. "Still, it has allowed USD/CNH to rise," the analyst adds. USD/CNH is up 0.2% to 7.2236; USD/CNY is 0.1% higher to 7.2267; USD/SGD is up 0.4% at 1.2924. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 06, 2025 23:10 ET (03:10 GMT)
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