PBoC is expected to set USD/CNY mid-point at 6.9578 (prev. 7.0006)
Newsquawk Staff ·
PBoC is expected to set USD/CNY mid-point at 6.9578 (prev. 7.0006)
What it means
The PBoC's decision to set the USD/CNY mid-point significantly lower than the previous level suggests a more supportive policy stance, likely aimed at stabilizing the yuan amid ongoing economic challenges. This adjustment may impact investor sentiment towards both the yuan and broader risky assets, potentially affecting forex pairs and commodities linked to China.
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