PBoC sets USD/CNY mid-point at 6.8898 vs exp. 6.8773 (Prev. 6.8975)
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PBoC injects CNY 20.5bln via 7-day reverse repos with the rate at 1.40%
IDF launches a wave of strikes on infrastructure targets across Iran
PBoC sets USD/CNY mid-point at 6.8898 vs exp. 6.8773 (Prev. 6.8975)
Saudi officials see the base case for oil to rise to USD 180/bbl if the disruptions persist until late April, according to WSJ
Chinese Loan Prime Rate 1Y 3.00% vs. Exp. 3.00% (Prev. 3.00%)
On the Newsquawk feed at , 20 minutes before this page.
Context
The PBoC's setting of the USD/CNY mid-point at 6.8898, above expectations, suggests a more cautious approach to the yuan amid recent market volatility. This movement, while a slight adjustment from the previous level, may indicate the bank's desire to manage depreciation risks for the currency, which could influence global sentiment towards risk and impact broader currency dynamics, particularly in relation to rate expectations in the U.S. and other major economies.
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