 Commodity currencies rises broadly in Asian session today, buoyed by slight improvement in risk sentiment after a relatively quiet weekend in the Middle East. This contrasted with the performance of typically safe-haven assets such as Swiss Franc, Japanese Yen, and Dollar, all of which traded mildly lower. Gold also dips away from 2400 mark, while WTI crude oil lingered around 82. Overall, the picture suggests relative calm in the markets for now. China's central bank kept benchmark lending rates unchanged today, with one-year loan prime rate holding steady at 3.45% and five-year rate at 3.95%. On the geopolitical front, US Congress moved forward with legislation targeting TikTok, mandating the divestiture of its Chinese ownership within a year. Concurrently, a move mirrored the tensions as Apple dropped WhatsApp and Threads from its app store, in compliance with Chinese regulator's request. These developments have minimal immediate impact on market so far... |
