I posted earlier in the week the good info from HSBC on the PBOC allowing the onshore yuan to weaken a little:
HSBC expect the USD/CNY reference rate to drift higher (yuan weaker)
Which its done, setting the CNY at its lowest since November 2023 today:
PBOC sets USD/ CNY central rate at 7.1192 (vs. estimate at 7.2653)
USD/CNH has popped higher, also to November 2023 levels:
More:
The PBOC USD/CNY fixing is coming up soon – looks like the Bank is lightening upPBOC Loan Prime Rates (LPR) remain unchanged at today’s rate setting, as expected
This article was written by Eamonn Sheridan at www.forexlive.com.I posted earlier in the week the good info from HSBC on the PBOC allowing the onshore yuan to weaken a little:HSBC expect the USD/CNY reference rate to drift higher (yuan weaker)Which its done, setting the CNY at its lowest since November 2023 today:PBOC sets USD/ CNY central rate at 7.1192 (vs. estimate at 7.2653)USD/CNH has popped higher, also to November 2023 levels:More:The PBOC USD/CNY fixing is coming up soon – looks like the Bank is lightening upPBOC Loan Prime Rates (LPR) remain unchanged at today’s rate setting, as expected
This article was written by Eamonn Sheridan at www.forexlive.com. Read MoreCentral Banks
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