Asian currencies caught a boost from better-than-expected...

Asian currencies caught a boost from better-than-expected Chinese economic data on Wednesday, driving the yuan to a one-week high and putting a dampener on the U.S. dollar.

A blast at a Gaza hospital, however, kept moves modest and traders on edge at the prospect of a widening conflict. U.S. President Joe Biden is due to visit Israel on Wednesday. The shekel ILS=D3 was pinned to the weaker side of 4 to the dollar.

Official data showed China's economy grew 1.3% in the third quarter, accelerating from 0.5% in the previous quarter and topping market forecasts for an increase of 1%. Industrial output rose and unemployment fell.

"It pretty much means the growth target for this year of around 5% will be achieved, maybe slightly above," said UOB economist Woei Chen Ho in Singapore.

The yuan and trade-dependent Australian and New Zealand dollars all bounced. The Aussie AUD=D3 was last up 0.2% at $0.6378. The kiwi NZD=D3 rose by the same margin to $0.5909.

The yuan CNY=CFXS hit a one-week high of 7.2905 per dollar, though it then retreated to 7.306.

On Tuesday, U.S. yields had shot sharply higher after data showed retail sales increased strongly, which had helped the dollar pile pressure on the low-yielding Japanese yen.

The yen JPY=EBS was last at 149.68 to the dollar and was squeezed, as the Bank of Japan unexpectedly announced $2 billion in bond-buying to keep downward pressure on yields.

Elsewhere the dollar struggled to gain, which some analysts suggested could point to a loss of momentum.

The benchmark 10-year Treasury yield US10YT=RR has climbed about 100 basis points since mid July, and the dollar index =USD is up 7% in the same period.

"It's had a really good run and it's stalled a bit," said Westpac analyst Imre Speizer. "Maybe it's hitting the limits of this stage of the rally, and needs a bit of a correction."

The euro EUR=EBS gained 0.1% overnight and was steady at $1.0574 in Asia. Sterling GBP=D3 held at $1.2170.

	======================================================== 
	Currency bid prices at 0516 GMT 

 Description	  RIC		 Last		   U.S. Close  Pct Change	 YTD Pct	 High Bid	Low Bid 
											  Previous				   Change				  
											  Session											
 Euro/Dollar	   EUR=EBS																	   

							  $1.0579		 $1.0576	+0.02%		  +0.00%	  +1.0579	 +1.0561 
																								 
 Dollar/Yen		JPY=EBS																	   

							  149.6600		149.7900   -0.08%		  +0.00%	  +149.7900   +149.5500 
																								 
 Euro/Yen		 
				  S>		  158.34		  158.44	 -0.06%		  +0.00%	  +158.4500   +158.1500 
																								 
 Dollar/Swiss	  CHF=EBS																	   

							  0.8989		  0.9005	 -0.16%		  +0.00%	  +0.9009	 +0.8988 
																								 
 Sterling/Dollar   GBP=D3																		

							  1.2182		  1.2184	 -0.01%		  +0.00%	  +1.2184	 +1.2160 
																								 
 Dollar/Canadian   CAD=D3																		

							  1.3634		  1.3648	 -0.10%		  +0.00%	  +1.3658	 +1.3632 
																								 
 Aussie/Dollar	 AUD=D3																		

							  0.6380		  0.6366	 +0.21%		  +0.00%	  +0.6382	 +0.6352 
																								 
 NZ				NZD=D3																		

 Dollar/Dollar				0.5907		  0.5897	 +0.17%		  +0.00%	  +0.5911	 +0.5880 
																								 
																								 
	 
All spots  FX=  
Tokyo spots  AFX=  Europe spots  EFX=   Volatilities  FXVOL=   Tokyo Forex market info from BOJ  TKYFX   
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World FX rates	https://tmsnrt.rs/2RBWI5E 

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