On Wednesday, the People’s Bank of China (PBOC) established the USD/CNY reference rate at 7.0187, up marginally from the previous day’s fix of 7.0173 and above the Reuters consensus estimate of 6.9896.
The slight adjustment signals a modestly weaker yuan versus the US Dollar at the start of the trading session, reflecting ongoing market sensitivity to US-China interest rate differentials and broader currency market dynamics. Traders will watch for intraday spot movements around this fix, as the PBOC’s daily reference rate continues to serve as a key anchor for yuan trading in offshore and onshore markets.
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