9/4/2025–|Last update: 9/4/202503:45 PM (Mecca time)
The Chinese yuan fell to the lowest level in 19 months against the dollar – today, Wednesday – after the American currency fell abroad last night. Amid investors concern about the escalation of the trade war between China and the United States.
The yuan fell 0.18% to 7.3495 against the dollar in the afternoon transactions after it reached the level of 7,3505 yuans against the dollar – earlier in the session – the lowest level since September 2023.
The Chinese currency abroad reduced some of its losses and increased by 0.62% to 7.3812 yohn for the dollar in Asian transactions, after it was distracted by more than 1% in the previous session and last night reached its weakest level at all at 7.4288 per dollar.
The decreases come at a time when the trade war is escalating between the two largest economies in the world, and after the Chinese Central Bank has reduced its grip on the currency in what analysts said it is an attempt to withstand the strike received by the exports.
The counter -tariffs imposed by US President Donald Trump entered into dozens of countries today, including huge customs duties of 104% on Chinese goods, although he is preparing for negotiations with some countries.
Currency performance
- The dollar lost 0.9% to 144.99 Japanese, heading towards its lowest level in 6 months at 144.55 yen.
- The dollar fell to its lowest level in 6 months against the Swiss franc at 0.8409, threatening the main support level at 0.8374.
- The dollar index, which measures currency performance against a basket of 6 currencies, decreased by 0.68% to 102.25 points.
- The euro rose Also, with the support of reports that conservatives in Germany reached an agreement with the Social Democratic Party from the left of the center to form a government, which calmed the political concerns in the largest economy in the European Union.
- The unified currency rose 0.66% to $ 1.103, declining from the peak last week at $ 1.1147.
gold
Gold prices increased approximately 2% today, with the dollar fell after the customs duties entering China, as most dealers resorted to gold as a safe haven with global trade tension escalating and recession fears.
- Gold rose in instant transactions 2.08% to $ 3043 an ounce.
- US gold futures increased 2.4% to $ 3061.60.
The dollar fell, which made the price price be cheaper for other currencies.
Tim Water, a chief market analyst at KCM, said that the dollar turns towards decline due to concerns about customs duties, “the road paved the way for gold to restore the level of $ 3000.”
He added, “Because of the uncertainty about global growth and inflation, gold is still on the way to reaching new record levels despite facing some obstacles in its progress over the past week.”
He has limited the gains of gold – which does not bring back – has limited the revenue of the standard US Treasury bonds for 10 years, which reached its highest level in more than a month.
The price of the yellow metal reached its highest level ever at $ 3167.57 an ounce on April 3.
The markets are awaiting the minutes of the latest meeting of the monetary policy of the Federal Reserve (the US Central), which is expected to be issued later today, as well as the data of the US consumer price index in the United States tomorrow.
Clevin Wong, a chief analyst of the Asian and the Pacific region of the “Onda”, said that the Federal Reserve will not likely change its directions “because it is carefully monitored by the return of inflation due to the risks of growth.
As for other precious metals, its performance is as follows:
- Silver in instant transactions increased 1.85% to $ 30.37 an ounce.
- Platinum rose 0.52% to 927.55 dollars.
- Palladium rose 0.5% to 913.40 dollars.
