(Bloomberg) — Financial markets kicked off the week with renewed pessimism after data showed the Chinese economy is struggling with its coronavirus-induced shutdown and new fatalities were reported across the world. The offshore yuan sank with the Australian dollar.The offshore yuan retreated after data over the weekend showed activity contracted sharply last month. The yen climbed as the recent clamor for haven assets showed no signs of letting up, and the Aussie dollar plumbed fresh 11-year lows as investors ramped up bets for more monetary stimulus. The Federal Reserve said late Friday it’s open to action, with traders now pricing …read more
Source:: Yahoo Finance
