The People’s Bank of China (PBOC) raised its yuan midpoint rate to 6.7662 – the biggest one-day fix in percentage terms since July 5. The firmer daily fix could help the oversold Chinese currency stage a stronger corrective rally. That said, the relief could be short-lived, courtesy of the Sino-US trade tensions and the rising odds of a full-blown currency war between two of the world’s biggest economies. At press time, USD/CNY is trading at 6.7313, having clocked a one-week low of 6.7360. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Trade war could torpedo global economy in 2018 – Reuters FX Street 5 years The People's Bank of China (PBOC) raised its yuan midpoint rate to 6.7662 - the biggest one-day fix in percentage terms since July 5. The firmer daily fix could help the oversold Chinese currency stage a stronger corrective rally. That said, the relief could be short-lived, courtesy of the Sino-US trade tensions and the rising odds of a full-blown currency war between two of the world's biggest economies. At press time, USD/CNY is trading at 6.7313, having clocked a one-week low of 6.7360. Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
