The U.S. dollar was marginally higher Monday morning as well as the yuan strengthened somewhat as weak export data from China suggested Beijing might introduce new stimulus measures.
THE UNITED STATES Dollar Index that tracks the greenback against a basket of currencies was up 0.03% to 98.42 by 10:12 PM ET (02:12 GMT).?The dollar got some bad news on Friday on the weaker than expected nonfarm payrolls report that reported 130,000 new jobs, set alongside the 150,000 Wall Street, have been assuming.
The People’s Bank of China (PBoC) set the reference rate for that yuan at 7.0851, in comparison to Friday’s fix of 7.0855.
Chinese exports fell by 1% in August, defying expectations for any 2% increase. Shipments towards the U.S. slowed up sharply due to the ongoing trade dispute between your two countries. The brand new data has resulted in speculation that Beijing will introduce stimulus measures beyond the cut to banks reserve requirement ratios (RRR) of 50 basis points or 100 basis points for a few banks, presented on Friday.
The USD/JPY pair traded down 0.05% at 106.85. Japan’s economy grew by 1.3% between April and June, following data from your Cabinet Office released today. The info matched the expectations of economists polled by Reuters. The pace results in a quarter-on-quarter growth of 0.3%.
The AUD/USD pair was up 0.07% at 0.6851 as the NZD/USD pair was up 0.05% to 0.6428.