SHANGHAI -- China's central bank stepped up support for the yuan on Thursday, signaling it wants to avoid a rapid weakening of its currency, after the U.S. Federal Reserve's 2025 interest rate forecast sent the dollar higher.
Currencies
China's central bank steps up currency support after Fed move
Onshore yuan hits 15 month-low, treasury bond yields fall
Yuan and dollar notes are counted at a bank in Bangkok in January 2023. China's currency has been weakening against the greenback. © Reuters
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