美元/人民币 (USDCNY) 加自选

美元指数在美国个人消费支出通胀数据公布前保持在99.50附近的正位。美元指数（DXY）是衡量美元（USD）相对于一篮子六种世界货币价值的指数，在周五的亚洲交易时间小幅上涨至99.40附近。然而，美元的潜在上行空间可能有限，由于贸易和财政的不确定性，DXY将连续第五个月下跌。

US Dollar Index holds positive ground near 99.50 ahead of US PCE inflation data.The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, edges higher to near 99.40 during the Asian trading hours on Friday. However, the potential upside for the Greenback might be limited, and the DXY is set for a fifth-straight monthly decline on trade and fiscal uncertainty.

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China’s 10-year government bond yield dropped to around 1.70% on Friday, as investors sought safer assets amid stalled US-China trade negotiations. Treasury Secretary Scott Bessent remarked on Thursday that talks with China are currently “a bit stalled” and may require direct intervention from President Trump and President Xi Jinping to make progress. Although a temporary truce was reached two weeks ago, momentum has since waned. Meanwhile, Washington has tightened export restrictions, effectively barring certain American firms from selling key technologies to China. On the domestic front, investors are closely awaiting upcoming PMI data scheduled for release over the weekend, which is expected to provide important insights into the economic health of the world’s second-largest economy.

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The offshore yuan edged lower to around 7.18 per dollar on Friday, heading for a weekly decline as investor caution prevailed amid stalled US-China trade negotiations. Treasury Secretary Scott Bessent stated on Thursday that talks with China are “a bit stalled” and may require direct involvement from President Trump and President Xi Jinping to advance. While a temporary truce was reached two weeks ago, momentum has since faded. Market sentiment was further dampened by Washington’s decision to tighten export restrictions, effectively barring certain US firms from selling key technologies to China. Elsewhere, adding to investor concerns was the US appeals court reinstating President Trump’s reciprocal tariffs, overturning an earlier ruling that had deemed them unlawful. On the domestic front, investors await upcoming PMI data scheduled for release over the weekend, which is expected to shed light on the economic health of the world’s second-largest economy.

美联储的洛根：政策定位良好，准备应对不断变化的风险。达拉斯联邦储备银行行长洛里·洛根（Lorie Logan）隔夜表示，随着通胀“逐渐回到目标水平”，劳动力市场“保持强劲”，美联储双重任务的风险“大致平衡”。

Fed's Logan: Policy well positioned, ready to respond to shifting risks.Dallas Fed President Lorie Logan said overnight that with inflation “trending gradually back to target”, the labor market “holding strong”, and risks to Fed's dual mandate are “roughly balanced.