Asia FX Rallies on China Reopening Fervor, Dollar Hits 5-Month Low0

• Economy
• December 5, 2022

Most Asian currencies rose sharply on Monday as more Chinese cities relaxed some anti-COVID measures, while improving risk appetite and expectations of smaller rate hikes saw the dollar sink to an over five-month low. The yuan was the best performer for the day, rising 0.9% to 6.9628- its strongest level against the dollar since mid-September.