PBoC sets USD/CNY mid-point at 6.8426 vs exp. 6.7945 (prev. 6.8467)
The People's Bank of China (PBoC) setting the USD/CNY mid-point significantly higher than expected indicates a more cautious approach to currency valuation.
PBoC injects CNY 0.5bln via 7-day reverse repos with rate maintained at 1.40%
Ukraine's capital of Kyiv is under drone attack following expiration of the truce
PBoC sets USD/CNY mid-point at 6.8426 vs exp. 6.7945 (prev. 6.8467)
Pakistan's ambassador to Russia is convinced that the US will not resort to a new military operation against Iran, according to TASS citing an interview
PRE-MARKET CHINESE STOCKS NEWS: PBoC Q1 Monetary Policy Implementation Report stated they will continue to implement appropriately loose monetary policy, as well as utilise a variety of monetary policy tools flexibly, while it is to improve LPR mechanism
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This adjustment could reflect concerns about capital flows and economic stability in China, potentially affecting USD/CNY trading and creating ripple effects across forex markets and risk sentiment, especially given recent trends in monetary policy globally.
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