Muscat: The dollar index dipped 0.2 percent to 99.717. China’s yuan duly hit its highest in almost six months at 7.1980 per dollar. The euro edged up 0.3 percent to $1.1333. The dollar eased 0.4 percent to 144.21 yen, and away from Friday’s top around 145.91. The Aussie edged up to $0.6466, having hit a five-month high.

According to Oman News Agency, the recent fluctuations in the currency market come amid a backdrop of economic developments across Asia which have strengthened regional currencies. The yuan’s ascent is notable, marking a significant shift in its valuation against the dollar in recent months. Meanwhile, the euro’s increase against the dollar signifies a broader trend of strengthening in non-dollar currencies.

Market analysts suggest that these movements could impact global trade dynamics, especially affecting countries heavily reliant on dollar transactions. The rise of the Australian dollar to a five-month high reflects a growing confidence in the region’s economic prospects.