Neutral
USD/CNH rises to 6.72 as US dollar strengthens and PBOC sets weaker yuan fix
In the past 24 hours, USD/CNH has increased to 6.72, influenced by a stronger US dollar and a weaker yuan fix set by the People's Bank of China (PBOC). The PBOC's daily fixing was set at 6.7489, weaker than the previous day's 6.7468, indicating a less supportive stance for the yuan. Additionally, the US dollar index remains near a two-month high, bolstered by expectations of a Federal Reserve rate hike in October.
Key points
- PBOC sets daily fixing at 6.7489, weaker than previous day's 6.7468.
- US dollar index remains near two-month high, supported by Fed rate hike expectations.
Sources
AI-generated from public news sources. Not financial advice.
