Bank of America Raises China's Economic Growth Forecast

The dollar eased from a 20-year high on Friday after data showed the pace of U.S. hiring rose more than expected in August, but wage growth moderated and unemployment ticked higher, giving the Federal Reserve some wiggle room when it raises interest rates later this month.

The dollar was slightly lower on Wednesday against a basket of major currencies after the U.S. Federal Reserve raised interest rates by 75 basis points, as was widely anticipated, but noted signs of a softening economy.

The dollar retraced from a 20-year high and the euro broke back above parity, following a brief dip below, after data on Wednesday showed U.S. consumer price inflation surged to a more than 40-year high in June.

The U.S. dollar was up 0.35% at 136.165 yen, gaining support from a strong rebound in the 10-year Treasury yield, which jumped to 2.9780% in Tokyo on Tuesday from the lowest since May at 2.7910% on Friday.

A group of Peruvian indigenous communities said on June 9 that they would lift protests against MMG Ltd's Las Bambas copper mine, which has been forced to shut down for more than 50 days, the longest in the mine's history.

The Biden administration is actively considering "resetting" tariffs on Chinese goods, U.S. Treasury Secretary Yellen said Wednesday EST, but warned that tariff cuts are not a "panacea" for high inflation, according to foreign media reports.

In May, the manufacturing purchasing managers' index (PMI) was 49.6, below the 50-point mark but up 2.2 points from the previous month, with the overall climate index in the manufacturing sector improving.

Today, the most traded INE bonded copper 2207 contract showed an overall upward trend.

SHANGHAI, Apr 22 - On April 22, Yi Gang, Governor of the People's Bank of China, attended the sub-forum on "Global Inflation, Interest Rate Hike Tide and Economic Stability" at the Boao Forum for Asia Annual Conference 2022 and delivered a keynote speech.

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