PBoC sets USD/CNY mid-point at 6.8909 vs exp. 6.8798 (Prev. 6.8961)
Newsquawk Staff ·
PBoC sets USD/CNY mid-point at 6.8909 vs exp. 6.8798 (Prev. 6.8961)
What it means
The PBoC's setting of the USD/CNY mid-point at 6.8909 is above expectations, indicating a modest weakening of the CNY against the USD compared to the previous mid-point. This suggests the central bank may be leaning towards a more accommodative policy stance, potentially impacting capital flows and influencing risk sentiment in the FX markets as traders reposition based on these adjustments.
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