Bloomberg China set its daily yuan reference rate at the weakest level since 2008 after the currency hit a seven-month low in onshore trading amid increasing political tensions with US. The People’s Bank of China (PBOC) put the yuan fixing at 7.1209 per dollar. That compares with the 7.122 average estimate in a Bloomberg survey of traders and analysts. The …

Bloomberg The robots advising investors at the biggest Nordic banks just had their best quarter since being switched on. Much of their sudden popularity has coincided with the crisis triggered by Covid-19. But the banks behind the bots say the development has also laid bare where human financial advisers add no value, and robots do. At the biggest Nordic bank, …

Bloomberg Singapore’s currency looks set to remain under pressure as global headwinds outweigh the benefits of an easing in the nationwide lockdown. The US dollar-Singapore dollar pair has failed to break below technical support at its one-month low, suggesting its next move could well be higher. Data this week is expected to show the nation’s economy contracted 1.8% y/y in …