The dollar rose to a five-week high against a basket of currencies
on Wednesday after Fed Chairman Powell's upbeat views on the US economy bolstered bets on further interest rate hikes this year.
Against a basket of currencies
, the dollar was a shade lower at 89.
Meanwhile, the dollar dropped lower against a basket of currencies
, following reports that the implementation of a corporate tax cut could be delayed.
However, the US dollar was largely lower against a basket of currencies
in early Asian trade, while hovered near an eight-week high against the yen.
The US dollar was regaining steam after comments from US President Donald Trump - who said the currency was getting too strong - sent the greenback lower against a basket of currencies
The USD/RMB bilateral exchange rate continues to operate orderly within the mechanism which is based on market supply and demand and referenced to a basket of currencies
When the IMF Executive Board determined the RMB to be a freely usable currency and decided to include it in the basket of currencies
that make up the Special Drawing Right (SDR), effective October 1, 2016, it underscored the importance of making efforts to address remaining data gaps, including in the currency coverage of the COFER survey, ahead of the next SDR review.
The article notes, "The decision by the PBoC in December to launch a new index tracking the CNY against a basket of currencies
indicates that Chinese authorities may indeed be considering setting the yuan exchange rate against a trade-weighted basket of currencies
, rather than just the USD.
The Suez Canal uses SDR as an international basket of currencies
to avoid any impacts of fluctuation of international currencies on revenue.
Until now, Beijing set the yuan's value each day based on a basket of currencies
that is believed to be dominated by the U.
President of the German central bank said the G7 sought to add the Chinese currency to the international basket of currencies
, but Beijing must meet some relevant requirements.
Singapore guides the local dollar against a basket of currencies
within an undisclosed band and adjusts the pace of appreciation or depreciation by changing the slope, width and center of the band.