PBoC is expected to set USD/CNY mid-point at 6.9459 (prev. 6.9771)
Newsquawk Staff ·
PBoC is expected to set USD/CNY mid-point at 6.9459 (prev. 6.9771)
What it means
The People's Bank of China (PBoC) is setting the USD/CNY mid-point lower than the previous reference, indicating a potential attempt to stabilize the yuan or mitigate depreciation pressures. This adjustment could reflect the PBoC's ongoing policy stance and may influence risk sentiment in Asian markets, potentially affecting flows into other assets like equities and commodities.
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