PBoC is expected to set USD/CNY mid-point at 6.9849 (prev. 7.0128)
Newsquawk Staff ·
PBoC is expected to set USD/CNY mid-point at 6.9849 (prev. 7.0128)
What it means
The PBoC's decision to set the USD/CNY mid-point lower at 6.9849 suggests a marked shift in policy aimed at stabilizing the yuan against the dollar. This more competitive midpoint could enhance exports and impact China’s monetary policy; watch for potential reverberations across FX markets and investor sentiment regarding other currencies.
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