Market News
Aussie jumps, yen slumps as rates play dominates in February - REUTERS
Summary
- Australian dollar jumps on hawkish RBA outlook
- China's PBOC moves to slow pace of yuan appreciation
- Yen struggles as politics complicates rate-hike path
SINGAPORE, Feb 27 (Reuters) - The Australian dollar was poised for another sharp monthly gain on Friday as expectations grow for a more hawkish central bank, while the yuan lost momentum after China hit the brakes on a long-running rally in the currency.
The People's Bank of China (PBOC) moved on Friday to slow the pace of rapid yuan appreciation, saying it will scrap the foreign exchange risk reserves for some forward contracts - seen as a way to encourage dollar buying.




