The PBoC USD/CNY setting is expected above 7 today

Reuters’ estimate is for a benchmark rate of 7.008.

This is the first peek above 7 for the estimate during the current bout of CNY weakness. Note, however, that the People’s Bank of China has pegged the actual average rate below the estimate for the past 3 weeks or so.

The setting is scheduled for 01:15 GMT.

  • USD/CNY is the onshore yuan. It is allowed to trade plus or minus 2% of this daily reference rate.
  • CNH is the offshore yuan. USD/CNH has no restrictions on its trading range.

The chart is the offshore yuan:


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