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PBOC sets USD/ CNY reference rate for today at 7.2006 (vs. estimate at 7.3065)

PBOC sets USD/ CNY reference rate for today at 7.2006 (vs. estimate at 7.3065)
Another huge discrepancy between the modelled expectation and the PBOC decision. People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.The previous close was 7.2888more to come... Read More
Posted: Aug 18 2023, 01:15
Author Name: forexlive
Views: 111827

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