China Sets Yuan Reference Rate

PBOC sets USD/CNY mid-point at 6.8108 The People's Bank of China set the USD/CNY mid-point at 6.8108. This reference rate allows the yuan to fluctuate within a +/- 2% range. The set rate is higher than the estimated 6.7605, and may impact currency markets.<

PBOC Set to Fix USD/CNY Midpoint Near 6.7605

The daily yuan reference rate will signal policy intent amid managed float and market volatility concerns. The People’s Bank of China is poised to set the USD/CNY reference rate around 6.7605, a key benchmark for the yuan’s daily trading band. The midpoint, determined befo