Mon. Nov 28th, 2022

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Chinese yuan strengthens

1 min read
Japanese yen

Investors monitored Chinese assets after FTSE Russell announced Thursday that Chinese government bonds are scheduled to be included in the FTSE World Government Bond Index starting October 2021.

Following that announcement, the onshore Chinese yuan strengthened to 6.8125 per dollar, but it was still off levels below 6.78 against the greenback seen earlier this week. The offshore Chinese yuan changed hands at 6.817 per dollar, also weaker than levels below 6.8 seen earlier in the trading week.

Overnight on Wall Street, stocks eked out small gains. The Dow Jones Industrial Average closed 52.31 points higher, or 0.2%, at 26,815.44. The S&P 500 added 0.3% to finish its trading day at 3,246.59 while the Nasdaq Composite advanced 0.4% to close at 10,672.27. The moves stateside came in a wild session that saw the Dow down more than 200 points at its session low and up more than 300 points at one point.

Investors will also watch developments on potential U.S. coronavirus stimulus. House Democrats are preparing a new $2.4 trillion stimulus plan as the party looks to restart negotiations with the White House following talks that fell apart last month.

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