Yuan is at its highest level in 16 months after Chinese data

The Chinese yuan jumped to its highest level in 16 months against the dollar today after Chinese data indicated an economic recovery after isolation measures due to the Corona pandemic, while the US dollar declined with the improvement in risk appetite, according to "Reuters".

Chinese industrial production accelerated and retail sales grew for the first time this year, beating analysts' expectations.

The yuan rose both abroad and at home. The yuan in foreign trade hit its highest level in 16 months at 6.7725 against the US dollar, before falling slightly.

The US dollar fell, but it recovered part of the losses it incurred overnight in early trade in London, and the dollar index remained down 0.1 percent at 92.946 by 0718 GMT.

The Australian dollar rose after the country's central bank meeting showed that there was no intention of cutting interest rates, which reached a record low. And the Australian currency recorded 0.7323, up 0.5 percent during the session.

Australia had its first day without registering Covid-19 deaths in two months.

The New Zealand dollar rose 0.3 percent against the US dollar, while the Canadian dollar rose about 0.2 percent against its US counterpart.

The euro rose 0.2 percent against the US currency, to $ 1.8191.