TREE NEWS reports: The People’s Bank of China set the yuan’s central parity rate at 6.7459 per dollar, 28 pips stronger than the previous fix of 6.7487. The onshore spot closed the prior session at 6.6955, while the overnight session last traded at 6.6953.
PBOC Sets Yuan Midpoint at 6.7459, 28 Pips Stronger Than Previous Fix
AI take
The fix remains notably weaker than the spot close, a gap that signals the central bank is still leaning against appreciation pressure rather than chasing the market rate. That spread, not the 28-pip daily move, is the more informative detail for anyone tracking how the PBOC manages the currency's glide path. Whether the fix continues to trail spot, and by how much, is the open question.
Generated by AI for reference only.
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