Bloomberg China took the most aggressive step yet in its latest battle to bolster the yuan, setting its reference rate for the currency with the second-strongest bias on record. The People’s Bank of China (PBOC) fixed the yuan against the dollar at 249 pips stronger than the average estimate in a survey of market participants — which Bloomberg started compiling …

  Bloomberg The rupiah looks poised to test a key support level in the coming months as falling commodity prices, a potential tax on nickel exports and the slow pace of interest rate hikes in Indonesia weigh down the currency. An earlier-than-expected hike from Bank Indonesia last week did little to support rupiah, with the 25-basis-points increase easily overshadowed by …

Bloomberg UK credit card borrowing rose at its strongest pace since 2005, and mortgage interest costs jumped to the highest in six years, indicating growing strain on household budgets. The Bank of England (BOE) said annual growth in credit card debt rise 13%, which was the most in 17 years. The average interest rate on new mortgages rose 18 basis …