“6.8658 Takes the Lead Over 6.8721: Exciting New Twist in the Last Close Challenge!”
The People’s Bank of China (PBOC) holds great influence over the value of the yuan since it is the PBOC that sets the daily midpoint fix each morning, after considering the yuan’s previous day’s closing levels and quotations obtained from the inter-bank dealer. The practice prevents the yuan from trading too widely outside of predetermined […]