PBoC sets USD/CNY mid-point at 6.8435 vs exp. 6.8086 (prev. 6.8415)
The People's Bank of China (PBoC) setting the USD/CNY mid-point at 6.8435, significantly above market expectations, suggests a more cautious stance on the yuan amid ongoing economic pressures.
PBoC injects CNY 1bln via 7-day reverse repos with rate maintained at 1.40%
Japan is likely issue fresh debt as part of funding for a planned extra budget to soften the blow from the Middle East conflict, according to sources cited by Reuters
PBoC sets USD/CNY mid-point at 6.8435 vs exp. 6.8086 (prev. 6.8415)
Samsung Electronics (005930 KS) union says it will engage in government-mediated pay talks
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This move could reflect concerns over capital outflows or a desire to manage currency volatility, potentially impacting not only Chinese trade dynamics but also U.S.-China relations and broader forex markets, especially if this trend persists.
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