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21 Jun 2023

PBOC sets USD/CNY reference rate at 7.1795 vs. 7.1596 previous

People’s Bank of China (PBoC) set the USD/CNY central rate at 7.1795 on Wednesday, versus previous fix of 7.1596 and market expectations of 7.1802. It's worth noting that the USD/CNY closed near 7.1821 the previous day.

More to come...

About PBOC fix

China maintains strict control of the yuan’s rate on the mainland.

The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled.

Each morning, the People’s Bank of China (PBOC) sets a so-called daily midpoint fix, based on the yuan’s previous day's closing level and quotations taken from the inter-bank dealer.

Jun 21, 2023

US Dollar Index: DXY bulls eye 103.00 on hawkish Fed clues, China woes, focus on Powell’s Testimony

US Dollar Index (DXY) remains firmer for the fourth consecutive day despite recent inaction around 102.60 amid early Wednesday. In doing so, the green
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Jun 21, 2023

USD/CAD holds steady above 1.3200 mark, traders await Powell’s semi-annual testimony

The USD/CAD pair extends the previous day's late pullback from the 1.3270 area and edges lower during the Asian session on Wednesday, albeit lacks fol
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