The People’s Bank of China (PBOC) is expected to set the Yuan reference rate 7.1055 per US Dollar today, having announced the fixed the mid-point rate at 7.0570 on Monday. Essentially, the central bank is expected to devalue Yuan by 485 pips. That will likely trigger another wave of risk aversion in the markets in which case traditional safe havens like Gold, Japanese Yen, and Swiss Franc could rise sharply. The slide in Yuan will likely hurt Asian currencies except Japan’s Yen. 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 EUR/JPY: Another U-turn from 10-day EMA amid fresh risk aversion wave FX Street 4 years The People's Bank of China (PBOC) is expected to set the Yuan reference rate 7.1055 per US Dollar today, having announced the fixed the mid-point rate at 7.0570 on Monday. Essentially, the central bank is expected to devalue Yuan by 485 pips. That will likely trigger another wave of risk aversion in the markets in which case traditional safe havens like Gold, Japanese Yen, and Swiss Franc could rise sharply. The slide in Yuan will likely hurt Asian currencies except Japan's Yen. 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.
