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 unveiled some of its boldest measures in years on Tuesday aimed at boosting its struggling economy as leaders grapple with a prolonged property sector debt crisis, continued deflationary pressur

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.