KASHKARI: A HUGE QUESTION MARK ABOUT HOW LONG HORMUZ STRAIT WILL BE CLOSED, THAT WILL HAVE A BIG EFFECT ON INFLATION

Morgan Stanley expects the yuan to rise to 6.70 near term and 6.75 by year-end on stronger growth and improved risk sentiment but sees limited further upside, arguing the currency is not significantly undervalued. The CFETS index shows the yuan has mostly caught up after earlier weakness. This contrasts with more bullish forecasts from Goldman Sachs, JPMorgan AM, and Lotus Asset Management, which see potential gains toward 6.5–6.2.

KING CHARLES: GOVERNMENT WILL INTRODUCE ENERGY INDEPENDENCE BILL TO SCALE-UP HOMEGROWN RENEWABLE ENERGY