Chinese leaders have pledged to step up policy adjustments to cushion the impact on businesses and consumers from a surge in COVID-19 infections.
The dollar has gained more than 8% over the year, but it lost more than 7% this quarter on expectations the Fed may not raise rates as high as previously feared. The Japanese yen strengthened by around 1% to a 10-day high of 131.57 per dollar, but for 2022, the Bank of Japan's ultra-dovish policy has pushed it to its worst performance since 2013.Investors are worried that central banks' efforts to tame inflation could lead to an economic slowdown.
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