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PBOC’s Weaker Daily Fixing to Temper Yuan Gains, Analysts Say
Key Points
Currencies PBOC’s Weaker Daily Fixing to Temper Yuan Gains, Analysts Say China’s central bank set the yuan’s fixing at a weaker-than-expected level, a move that some analysts said may indicate a desire to slow the pace of gains after the currency climbed to a three-year high. The People’s Bank of China fixed the reference rate at 6.7894 on Friday, versus 6.7892 Thursday. The gap between the rate and the average estimate in a Bloomberg survey of analysts and traders was the widest since early...
Currencies
PBOC’s Weaker Daily Fixing to Temper Yuan Gains, Analysts Say
China’s central bank set the yuan’s fixing at a weaker-than-expected level, a move that some analysts said may indicate a desire to slow the pace of gains after the currency climbed to a three-year high.
The People’s Bank of China fixed the reference rate at 6.7894 on Friday, versus 6.7892 Thursday. The gap between the rate and the average estimate in a Bloomberg survey of analysts and traders was the widest since early March.