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The offshore yuan is weak heading into the PBOC fixing today - but it's a long way to 7.33

We get the People's Bank of China reference rate just after 0115 GMT, which is 9.15pm US Eastern time. PBOC is expected to set the USD/CNY reference rate at 7.2540 – Reuters estimateThe 'expected' is not overly weak. The People's Bank of China have pushed back against the pace of the yuan decline, but not as strongly as they might have. Yuan is trading near seven-month lows. The People's Bank of China have not been too concerned, seeing a lower yuan as a supportive proper for exporters amidst an... Read More

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Content Topics

Offshore

Yuan

Weak

Heading

Into

Pboc

Fixing

Today

It

Long

Forex

Posted: Jun 29 2023, 00:56

Author Name: forexlive

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