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PBOC sets yuan reference rate for today at 6.4628

Discussion in 'Fundamental Analysis' started by ForexLive, Mar 18, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Yesterday's USD/CNY mid point was set at 6.4961 So, another stronger CNY setting today from the People’s Bank of China. One of the factors the bank takes into account in the daily setting is the moves in the USD since the prior setting ... so USD weakness since yesterday's set means a weaker USD/CNY mid point (rule of thumb, the exact algo they use is unknown)

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