PBOC's daily yuan fix: 6.7156 per dollar, topping the 6.6783 prediction
PBOC set USD/CNY reference rate at 6.7156 vs 6.6783 estimate, and repo operations resulted in net 609.5 billion yuan withdrawal.
PBOC set USD/CNY reference rate at 6.7156 vs 6.6783 estimate, and repo operations resulted in net 609.5 billion yuan withdrawal.
PBOC expected to set USD/CNY reference rate at 6.6625 per Reuters, a key policy signal for Asian FX markets.
The PBOC set the USD/CNY reference rate at 6.7138, higher than the 6.6548 estimate, and announced two reverse repo operations.
The PBOC is expected to fix the USD/CNY midpoint at 6.6596, according to a Reuters poll. The fixing is a key policy signal in Asian FX markets.
The PBOC is expected to announce its daily USD/CNY midpoint around 0115 GMT, with Reuters estimating it at 6.6758.
The PBOC set the USD/CNY mid-point at 6.7192, higher than the 6.6779 estimate.
MUFG sees a firmer Chinese growth backdrop supporting the yuan, while uneven demand and possible policy easing could limit the currency's upside.
The PBOC has eased resistance to yuan gains, with the fixing rising for eight consecutive days and the gap with market forecasts narrowing.
PBOC shifts from restraining yuan to guiding it higher, with the fixing stronger for eight consecutive sessions in September, but still below consensus.
Reuters sees the PBOC's daily USD/CNY fixing at 6.6981, with the midpoint's policy message shifting.
Goldman Sachs says the yuan is 20-25% undervalued, with markets underestimating gains; it sees 6.40 per dollar within a year.
The PBOC is expected to set the USD/CNY reference rate at 6.7973, according to a Reuters estimate.
Reuters expects the PBOC to set the USD/CNY midpoint at 6.7025, with recent fixings showing Beijing has eased resistance to yuan gains.
The PBOC has eased resistance to yuan gains, though September fixings remain below market estimates. Reuters sees the next midpoint at 6.7085.
PBOC set the yuan central rate at 6.7459 per dollar versus a 6.6989 forecast, the strongest since February 3, 2023.