As the Trump-Xi summit begins, the yuan climbs to a three-year high while the rupee falls sharply, raising concerns over India's economic outlook.
The British pound has weakened against the dollar due to rising U.S. inflation, impacting trader positions and potentially leading to increased market tension.
Morgan Stanley expects a drop in USD/CNY if Chinese exports remain robust, indicating a potential rise in demand for the yuan against the dollar.
Asian currencies face further declines following a surprising U.S. CPI report, intensifying focus on the Trump-Xi meeting and its potential trade impacts.
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The British pound weakens due to political pressure on Starmer, with inflation data set to influence Bank of England's future monetary policy decisions.
Regional currencies, including the Indian rupee, decline sharply due to escalating tensions in Iran, causing investors to adopt a cautious stance.