Home PBOC to set Yuan reference rate at 7.1197 per US Dollar – Reuters
FXStreet News

PBOC to set Yuan reference rate at 7.1197 per US Dollar – Reuters

The People’s Bank of China (PBOC) is expected to set the Yuan (CNY) reference rate at 7.1197 per US Dollar today, having announced the mid-point rate at 7.0858 on Wednesday.  

The USD/CNY pair closed 0.27% lower at 7.1434 yesterday. The losses, however, could be erased today if the PBOC announces weaker-than-expected fix, inviting stronger CNY selling pressure.  

 

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.