PBoC sets USD/CNY mid-point at 7.0103 vs exp. 6.9734 (Prev. 6.9849)
Newsquawk Staff ·
PBoC sets USD/CNY mid-point at 7.0103 vs exp. 6.9734 (Prev. 6.9849)
What it means
The PBoC’s setting of the USD/CNY mid-point at 7.0103 significantly deviates from expectations, suggesting a softer yuan than anticipated. This could indicate a more dovish stance from the central bank in light of economic conditions, potentially impacting risk sentiment and cross-asset prices, particularly in FX markets.
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