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PBoC is expected to set USD/CNY mid-point at 6.9678 (prev. 7.0120)

The PBoC's decision to set the USD/CNY mid-point lower than the previous fix suggests a potentially more proactive stance to support the yuan amidst ongoing economic pressures.

Newsquawk StaffPublished On the live feed at — 2 more headlines followed before this page went public
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PRE-MARKET TAIWANESE AND SINGAPOREAN STOCK NEWS

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PBoC is expected to set USD/CNY mid-point at 6.9678 (prev. 7.0120)

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Context

This move could enhance market sentiment towards risk assets and signal a shift in the central bank’s approach to managing currency stability, influencing flows into Chinese assets and affecting cross-asset dynamics, particularly in FX markets.

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