On Tuesday, the People’s Bank of China set the USD/CNY central rate at 6.9546 versus Monday's fix of 6.9825 and market expectations of 6.9555.
It's worth noting that the USD/CNY closed near 6.9634 on the previous day, taking rounds to the same by the press time. Each morning, the People’s Bank of China sets a so-called daily midpoint fix, based on the yuan’s previous day's closing level and quotations taken from the inter-bank dealer. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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