Bearish
PBoC sets USD/CNY midpoint at 6.7828, signaling tolerance for yuan depreciation.
In the past 24 hours, the People's Bank of China (PBoC) set the USD/CNY midpoint at 6.7828, 17 basis points above market expectations, indicating a tolerance for yuan depreciation. This move suggests the PBoC's preference for a gradual appreciation path, with resistance at 6.7410–6.75 and support at 6.72–6.70.
Key points
- PBoC sets USD/CNY midpoint at 6.7828, signaling tolerance for yuan depreciation.
Sources
AI-generated from public news sources. Not financial advice.
