China Sets Daily USD/CNY Reference Rate

PBOC to set daily USD/CNY rate at 6.7861 The People’s Bank of China sets the daily USD/CNY reference rate to guide market expectations. The current trading band permits the currency to move plus or minus 2% from the official midpoint during onshore trading hours.

EUR/USD Drops to 1.1620 on US-Iran Tensions

Geopolitical risks from fresh US military strikes in Iran drive demand for the safe-haven USD, pressuring the Euro. The EUR/USD pair fell to 1.1620 in early Asian trading Thursday, extending losses below 1.1650. The decline follows new US military strikes in Iran, escalati