PBOC’s Bold Move: USD/CNY Reference Rate Shifts to 6.8764, Breaks From 6.8838 Precedent
The People’s Bank of China (PBOC) set the USD/CNY central rate at 6.8764 on Monday, slightly below the previous Friday’s fix of 6.8838 and market expectations of 6.8739. Significantly, the USD/CNY closed near 6.8676 the previous day. The PBOC also released data for the Open Market Operations (OMO), with calculations by Reuters suggesting that the […]