China's yuan hit a 16-month high on Tuesday, after stimulus measures infused broader markets with enthusiasm and boosted the euro, while the Australian dollar touched a 2024 peak after the central bank reiterated its determination to tame inflation.

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.

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

China's yuan hit a 16-month high on Tuesday, after stimulus measures infused broader markets with enthusiasm and boosted the euro, while the Australian dollar touched a 2024 peak after the central bank reiterated its determination to tame inflation.