The dollar index, a gauge that measures the U.S. currency’s strength against six other major currencies, fell to its lowest level since January 2015 on Monday. As of midday, it stood at 90.825 compared with the previous close of 90.974. “The yuan surged on the back of broader dollar weakness and is poised to make further gains this week,” said Stephen Innes, head of trading for Asia Pacific at OANDA. “The argument for the stronger yuan remains solid as regulators do not want currency weakness to divert attention from economic growth, investment inflow and regulatory reform.”
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