This Wednesday, while the US dollar is stable, the Australian dollar hit a new high in five months. The South African rand rose slightly, while the Chinese yuan and

The dollar stabilized on Wednesday ahead of a Federal Reserve meeting to determine policy in an uncertain economy and as major investors in Asia continued to withdraw their U.S. assets. The dollar index was little changed after falling 0.2% on Tuesday, its third straight drop

The Australian dollar hit a new five-month high on Wednesday, supported by progress in trade negotiations between the United States and China scheduled for later this week, while the New Zealand dollar found little support after a mixed employment situation.

The Indian rupee weakened on Wednesday, registering its worst drop in a day in a month, as concerns about an escalation of the geopolitical conflict between India and Pakistan affected sentiment, alongside a fall in Asian currencies. The Indian rupee closed down nearly 0.5 percent to 84.8250 against the US dollar, marking its worst performance

The Chinese yuan fell against the US dollar on Wednesday after the central bank announced interest rate cuts and an injection of liquidity into the banking system, slowing the recent sharp appreciation of the currency. At 02:19 GMT, the yuan was down 0.09% to 7.2263 per dollar after trading in a range of 7.2166 to 7.2273

Its offshore counterpart traded at 7.2214 yuan per dollar, down about 0.14% in Asian trade. This is the first cut in China's key interest rates since September 2024.

The South African rand was little changed in early trading on Wednesday as global investors focused on a US Federal Reserve interest rate decision later in the day. At 06:50 GMT, the rand was trading at 18.22 against the dollar, compared to 18.19 at the close on Tuesday