The People’s Bank of China (PBOC) has set the USD/CNY central rate for the upcoming trading session at 7.1364, slightly higher than the previous day’s fix of 7.1316. This decision comes amidst ongoing trade tensions between the US and China, with the Reuters estimate standing at 7.2586.
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Overall, the setting of the USD/CNY reference rate by the PBOC at 7.1364 reflects the current economic climate and trade dynamics between the US and China. This decision will likely have implications for global financial markets and investor sentiment in the coming trading sessions. It is important for investors to closely monitor these developments and adjust their strategies accordingly.