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Brazil's treasury is preparing its first sovereign yuan bond issuance before 2024 closes, marking a strategic pivot toward regular borrowing in Chinese markets. The move aims to establish a pricing benchmark for Brazilian companies seeking cheaper funding in Asia.
The ringgit opened Friday morning stronger against most major currencies but weakened against the US dollar as markets adopted a risk-averse stance. Trump's announcement of new tariffs targeting Malaysia and other nations continues to weigh on sentiment.
The ringgit is expected to rebound strongly in the second half of the year as Bank Negara Malaysia intensifies measures to encourage overseas earnings conversion and foreign investment, with analysts targeting levels of 3.95 to 3.80 per dollar.
The US dollar tumbled to its worst weekly performance in three months after disappointing June employment figures reduced expectations for imminent Federal Reserve rate increases, offering temporary relief to the struggling Japanese yen.