China's yuan briefly rose to its strongest level in over a year after Beijing unveiled a slate of stimulus measures to shore up the slowing economy. Unlike the Fed's focus on a main interest rate, the PBOC uses a variety of rates to manage monetary policy.

China's central bank Tuesday cut mortgage interest rates, the minimum downpayment for homebuyers and said it would soon slash the size of the contingency cash buffer banks must keep on one side in a b

China's yuan hit a 16-month high against the U.S. dollar on Tuesday, after the central bank of the world's second-largest economy revealed new stimulus measures, while the greenback extended declines against other major currencies after soft data on the consumer.

China's central bank on Tuesday unveiled a raft of measures to boost the country's struggling economy as it battles a prolonged property sector debt crisis, continued deflationary pressure and high