Asia FX weakens, dollar steadies with Iran escalation in focus
Asia FX weakens, dollar steadies with Iran escalation in focus
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China’s Caixin PMI Services rose modestly from 50.7 to 51.1 in May, aligning with expectations. However, the gain in services was not enough to offset the drag from manufacturing, as PMI Composite slipped into contraction at 49.6, its first reading below 50 since December 2022. Wang Zhe of Caixin Insight Group noted that the manufacturing…
