The dollar slid across the board on Monday as traders piled into riskier assets after more Chinese cities eased some of their COVID related restrictions, stoking hopes of an eventual reopening of the world's second biggest economy.
jumped roughly 1.4% to as high as 6.9507 on Monday morning, its strongest since Sept. 13.
Investors' focus will be on U.S. consumer price inflation data due out on Dec. 13, one day before the Fed concludes its two-day policy meeting. Meanwhile, the Japanese yen weakened 0.20% versus the greenback to 134.59 per dollar, having gained 3.5% last week, far off October's low of 151.94. "You got a case of not just the Fed slowing its pace of policy tightening but you also have the case of potential BOJ unwinding, maybe very early stage, some of its very accommodative policy," Wong said.
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