Asian currencies and equities edged higher on Wednesday after investors priced in the effects of China’s consumer prices falling in July, which made it the first G20 economy to enter deflation territory since Japan in 2021.
The Chinese yuan CNY=CFXS strengthened 0.2% as major state-owned banks were seen selling dollars to slow the pace of the yuan’s decline, while stocks .SSEC slipped 0.5%.
Weak inflation data from China had fuelled concerns over the outlook for global growth however investors switch focus to the Inflation print from U.S. for further clues on health of the global economy.
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