RUSSIA CALLS ON THE UKRAINIAN SIDE TO ADHERE TO THE ANNOUNCED CEASEFIRE, THE RUSSIAN DEFENSE MINISTRY REPORTED

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.

IRAN IMPOSES NEW RULES FOR STRAIT OF HORMUZ PASSAGE: CNN