The US Dollar’s upswing paused at the exact time that prices for natural gas began to decline, which benefited the British pound.
With the escalating conflict in Ukraine restricting oil resources and drought affecting many regions of the world, particularly hydroelectric power generation, the energy situation is still unclear.
While they offered special loans to support the real estate industry and lowered interest rates to date, the effects of China’s drought could hinder the government’s efforts to implement a centralized stimulus program.
While a typhoon is now descending upon the China and Hong Kong coastline, China is experiencing challenges due to drought.
The Hang Seng equities indices in Hong Kong and the CSI 300 on the China mainland are 1% lower. In terms of the US Dollar, the Chinese Yuan is at its weakest point in two years, where it is currently changing hands at 6.86, having shifted considerably.