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Another weaker fix from People's Bank of China (PBoC) and that seems to enough to jolt currencies across Asian markets and fuel risk aversion.
People's Bank of China (PBoC) announced today's fix, which was weaker than prior, about 0.16%, just around 15 minutes past 9'oclock in Hong Kong and Japanese Yen started appreciating just about the same time and Nikkei started faltering faster.
- Japan's Nekkei 225 closed down about -1.36% for the day, and Yen is up 0.35% to trade at 113.75 per Dollar.
- Australia's benchmark stock index is down about 1%. All risk favoring commodity currencies are down. Aussie is down -0.4%, Kiwi is down -0.1% and Loonie is down about -0.2%
- India's benchmark stock index is down -0.2%, trading just above 7000 mark, while Indian Rupee is weaker by 0.22%, just shy of its all-time high around 69 per Dollar.
Monday, Chinese Yuan after coming back from long New Year holiday, appreciated by most since 200 and recovered all of its loss against Dollar. After today's move, Yuan is currently trading at 6.525 per Dollar and down -0.55% for the year so far.
Yen traded as low as 114.4, thanks to weaker machinery orders but now it is well bid, courtesy PBoC and Yuan.
