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Weak Chinese Data, Rate Cut, Sends Regional Currencies Lower

·1 min read
Weak Chinese Data, Rate Cut, Sends Regional Currencies Lower

The yuan and currencies of Asian-Pacific countries with strong economic ties to China weakened following [soft Chinese economic data and a surprise interest-rate cut](https://www.wsj.com/articles/china-growth-slows-across-all-fronts-in-july-as-real-estate-weighs-11660545532). Data out Monday showed that China’s economy stumbled in July as a two-month boost from easing lockdowns faded. This prompted the central bank to cut two key interest rates by 0.1 percentage point in an effort to shore up fa