Sterling remained steady at $1.2522.

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China’s offshore yuan declined 0.1% to 7.2414 while the onshore yuan hit its lowest level since April 30 at 7.2385, as traders anticipated news on new tariffs from the United States on China.

Additionally, the Chinese central bank announced that new bank lending fell more than expected in April, and broad credit growth reached a record low.

Separate data revealed that Chinese consumer prices increased in April while producer prices continued to decline.

The central bank reiterated its commitment to supporting economic recovery.

In the cryptocurrency market, bitcoin rose by 0.68% to $60,889.51.