Category forex

China Sets Yuan Reference Rate

PBOC sets USD/CNY rate at 6.8415 The PBOC has set the USD/CNY reference rate for today at 6.8415. This rate allows the yuan to fluctuate within a +/- 2% range. The set rate is higher than the estimated 6.7976, indicating a potential shift in currency value.

US, China Near Agricultural Deal

US expects double-digit billions in agricultural sales to China The US and China are nearing an agricultural deal worth double-digit billions of dollars. The deal is expected to emerge from the recent US-China summit, with China fulfilling its soybean purchase comm

Pound Sterling Drops

GBP/USD falls 0.9% on Thursday GBP/USD fell 0.9% on Thursday, breaking below 1.3500 in a sharp decline. The move extended a multi-week downtrend from the early-March peak. Bearish momentum built through the European afternoon, with the daily candle closing