Dollar and Chinese yuan
The dollar index rose by 0.3% to 102.16 after the U.S. non-farm payrolls data, suggesting the Federal Reserve may have to raise interest rates next month. The currency was up 0.4% at 132.21 yen while the euro was 0.2% weaker at $1.0894. However, on Wednesday, strong business activity data ramped up bets of an economic recovery in China, helping most other China-exposed currencies gain for the day. This led to gains in both the Taiwan dollar and the South Korean won, which rose 0.5% against the dollar, as the data indicated that An Economic Recovery In China gained momentum over the past month after it relaxed most anti-COVID measures in January. A recovery from China bodes well for broader Asian economies that trade with the country, with gains into the Yuan spilling over into most else regional currencies with high trade exposure to the nation.