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PBOC is expected to set the USD/CNY reference rate at 7.1965 – Reuters estimate

PBOC is expected to set the USD/CNY reference rate at 7.1965 – Reuters estimate
Yesterday's reference rate was set more than 700 points from the expected, on the side of a much stronger yuan. I did a double take on the rate:PBOC sets USD/ CNY reference rate for today at 7. 1466 (vs. estimate at 7.2233)USD/CNH longs were slammed:---People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed flo... Read More
Posted: Jul 21 2023, 00:25
Author Name: forexlive
Views: 092041

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