PBoC is expected to set USD/CNY mid-point at 6.9734 (prev. 6.9849)
Newsquawk Staff ·
PBoC is expected to set USD/CNY mid-point at 6.9734 (prev. 6.9849)
What it means
The PBoC's decision to set the USD/CNY mid-point at 6.9734, lower than the previous rate of 6.9849, indicates a slight strengthening of the yuan. This move could imply a more supportive stance from the central bank towards stabilizing the currency, potentially impacting trade flows and investor sentiment for Chinese assets amidst ongoing global dynamics.
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