TREE NEWS reports: The People’s Bank of China set the yuan’s central parity rate at 6.7698 per dollar, 45 pips stronger than the previous fixing of 6.7743 and the strongest level since February 3, 2023. The prior official close stood at 6.7096, with the overnight session ending at 6.7079.
China Sets Yuan Fixing at 6.7698 per Dollar, Strongest Since Feb 2023
AI take
The fixing is the strongest since early 2023, yet it still sits well above where the market actually closed, leaving a visible gap between the official guidance and traded levels. That spread, rather than the headline number, is the tell: it shows the central bank steering the midpoint while spot trades at a premium. The open question is whether the fixing keeps grinding stronger in step with the market, or whether the gap widens and the daily fix becomes the main signal to watch.
Generated by AI for reference only.
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