The dollar recovered its losses on Monday after a drop following the release of data showing that job growth in the United States registered its slowest pace in two and a half years. Meanwhile, disappointing inflation figures in China affected the yuan, as well as the Australian and New Zealand dollars.
The dollar rose in Asian trading after decreasing about 1% against a basket of currencies on Friday due to the data, recording the largest increase against the Japanese yen. It rose by 0.53% in the latest trading after falling 1.3% on Friday.
Expectations indicate a 5% year-on-year increase in the core Consumer Price Index for June.
Data released today showed that producer prices in China fell at their fastest pace in seven and a half years in June, with inflation registering its slowest pace since 2021, which bolstered hopes that China would take further economic support measures.
The yuan declined in offshore trading by about 0.1% to 7.2411 yuan per dollar, while it also fell in onshore trading by about 0.2% to 7.2340 yuan per dollar.
