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.
