This Wednesday, the Australian dollar, the euro and The Chinese yuan strengthened, while the Indian rupee stagnated in a narrow fork. And the yen held close to its lowest level in two weeks.

The dollar Australian appreciated on Wednesday after a rate of surprisingly high core inflation has led the markets to reduce chances of a further rise in rates, widening the gap even further performance in his favor.

Markets now estimate around 80% of probability that the Reserve Bank of Australia will raise its key interest rate by 3.85% of 25 basis points in May, and fully anticipate such an increase by June.

The Australian dollar gained 0.2% to reach $0.7075, after finding support around $0.7020 overnight.

The resistance is at $0.7112 and you have to Breaking the recent three-year high of $0.71465 to jump-start the trend bullish.

The New Zealand dollar strengthened slightly at $0.5968, after the support at $0.5940 held for the fourth session consecutively during the night.

For its part, the euro recovered slightly after the low losses of the day before. On Wednesday morning, the single currency was traded at 1.1791 US dollars, a level slightly higher than on Tuesday evening. Overall, the fluctuations remained limited. The Bank Central European Central set its key interest rate at 1.1777 dollars. The euro was oscillating around 1.1776 dollars and the pound sterling stood at 1.35 dollars. The yen fell by 0.8% overnight, reaching a lower level of 156.28 for one dollar, before strengthening slightly to 155.88.

The Chinese yuan strengthened on Wednesday for reach a new high in 34 months, supported by business demand for this currency and by solid export prospects.

The spot yuan opened at 6.8796 for one dollar and traded at 6.8721 at 03:10 GMT, 91 pips more than the close of previous session.

The yuan appreciated by 1.1% compared to dollar this month and 1.8% since the start of the year.

The onshore yuan rose to 6.8703 for one dollar, its highest level since April 18, 2023, thus extending the gains recorded after the Lunar New Year break, while the currency offshore reached 6.8665, also the highest level since then.

Moreover, the yen, already fragile, remained near its lowest level in two weeks on Wednesday after the publication of an article stating that Prime Minister Sanae Takaichi had expressed to the governor of the central bank his reservations about future rate hikes, while the steady rise in the Chinese yuan has kept the pressure on the dollar. The yen has been depreciating for years in Because of low interest rates in Japan and has been under pressure ever since Takaichi came to power in October, for fear that she would put further straining an already tight national budget.

LA rupee Indian should remain confined to a range Narrow Wednesday, the absorption by the central bank of significant outflows of dollars in the previous session strengthening its defense of the level of 91.

The undeliverable 1-month forward contract stated that the rupee would open generally stable against the American dollar, after settling at 90.95 on Tuesday.

The motto has remained in a narrow range of 5 paisa on Tuesday despite currency weakness Asian counterparts, a fall in domestic equities and significant outflows of dollars, underlining the magnitude of the RBI's offer at the level of 91 for one dollar.