A post by @FirstSquawk on X.
Chinese Yuan Midpoint Weakened to Its Lowest Setting Since October 22
@FirstSquawk on X
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China’s central bank set the yuan’s daily midpoint at its weakest level since October 22, marking a renewed easing of the official fixing. The move extends a gradual softening in the reference rate that anchors onshore trading, with the midpoint guiding the currency’s permitted 2% trading band. The fixing matters because it signals how Beijing is balancing export competitiveness against capital-flow stability as the dollar stays firm. Traders will watch whether the weaker midpoint is followed by broader onshore depreciation and whether authorities lean on state banks to smooth volatility.
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Chinese Yuan