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PBoC is expected to set USD/CNY mid-point at 6.9578 (prev. 7.0006)

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.

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PBoC is expected to set USD/CNY mid-point at 6.9578 (prev. 7.0006)

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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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