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The Chinese yuan strengthens in both onshore and offshore trading. Earlier Thursday, the PBOC set the fixing at 6.8487 per dollar, the strongest level since March 2023, CFETS data show. MUFG’s Lloyd Chan says Asian currencies are also gaining versus

2026-05-07

The Chinese yuan strengthens in both onshore and offshore trading. Earlier Thursday, the PBOC set the fixing at 6.8487 per dollar, the strongest level since March 2023, CFETS data show. MUFG’s Lloyd Chan says Asian currencies are also gaining versus the dollar as markets see limited appetite for further Middle East escalation. He adds that additional de-escalation—such as Iran accepting a U.S.-backed deal and gradual reopening of the Strait of Hormuz—could further support Asia FX. The dollar is down 0.1% to 6.8037 yuan in onshore trade after briefly touching 6.8032, its weakest intraday level since February 2023, LSEG data show.

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2026-05-07

FED'S GOOLSBEE: NOT SURPRISED TO SEE EVIDENCE OF SUPPLY CHAIN PROBLEMS DEVELOPING GIVEN LENGTH OF U.S.-IRAN CONFLICT

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2026-05-07

South Korea’s market cap rose 71% to $4.59 trillion, surpassing Canada’s $4.5 trillion, driven by AI chip demand. Samsung and SK Hynix more than doubled this year. Ha SeokKeun of Eugene Asset Management noted Korea’s AI-led growth contrasts with Cana

South Korea’s market cap rose 71% to $4.59 trillion, surpassing Canada’s $4.5 trillion, driven by AI chip demand. Samsung and SK Hynix more than doubled this year. Ha SeokKeun of Eugene Asset Management noted Korea’s AI-led growth contrasts with Canada’s energy- and financial-heavy market.
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