TREE NEWS reports: The People’s Bank of China set the yuan’s central parity rate at 6.7220 per US dollar, 33 pips stronger than the previous fix of 6.7253. The onshore spot closed the prior session at 6.6916, while the overnight session last traded at 6.6914.
China Sets Yuan Midpoint at 6.7220 per Dollar, 33 Pips Stronger
AI take
The fix landed weaker than where the onshore spot and overnight market actually traded, which is the detail worth noting: the daily reference rate is not tracking the market's own level. That gap matters for anyone managing yuan exposure, since it shapes how much room the currency has to move inside its permitted band. Whether the midpoint continues to be set on this side of spot, and how long the spread persists, is the open question.
Generated by AI for reference only.
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