Sentiment reversed on the Taiwanese dollar as investors went bullish on the currency for the first time since early July as strong exports data pointed to improved growth prospects
The rouble was 0.3% weaker against the dollar at 73.61 and lost 0.2% to trade at 86.34 versus the euro, staying within the 86-87 range held since Aug. 3
Different easing approaches could have different impact on the financial markets, and monetary easing could put downside pressure on the yuan in the short term
They added that the yuan's outperformance would fade going into year-end in the wake of the policy divergence, slowing exports and its strength against its currency basket
Many analysts said the interest rate cut was an adjustment to monetary policy objectives, which was inconsistent with the policy tone, hence chances of such a move were very low
Sun maintained his forecast for the yuan to trade in a range of 6.45 to 6.49 per dollar for the near time, with some upside risks to the Chinese currency
"CGBs provide diversification benefits, while there was also the RRR cut in the month which had supported the bond market sentiment," strategists at OCBC Bank said in a note
In the spot market, onshore yuan opened at 6.4652 per dollar and was changing hands at 6.4608 at midday, 92 pips firmer than the previous late session close