Interest in safe assets grows
China's Caixin manufacturing PMI surprised many analysts by dropping from 50.5 to 49.2, which led to increased pessimism in financial markets.
China's Caixin manufacturing PMI surprised many analysts by dropping from 50.5 to 49.2, which led to increased pessimism in financial markets. The US dollar, the main safe-haven currency, is seeing heightened demand. The Australian dollar significantly weakened against the US dollar after the Reserve Bank of Australia's unexpected decision not to raise its interest rate.
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