PBoC sets USD/CNY mid-point at 6.8649 vs exp. 6.8315 (Prev. 6.8680)
Context
The PBoC's setting of the USD/CNY mid-point at 6.8649 is notably higher than the expected 6.8315, indicating a weaker CNY against the USD. This deviation could suggest a more dovish stance from the central bank, potentially impacting not just FX markets but also risk sentiment and cross-asset flows, particularly if this trend continues.
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