The USD/CNY benchmark rate estimate is today just below 7

The reference rate for USD/CNY arrives at 01:15 GMT.

Reuters estimate is 6.9946.

That would be a huge margin over yesterday’s rate:

But, the PBOC, like the BOJ, is not tightening its policy. And, as you know, the Fed is. the last move was Wednesday:

CNY and CNH (offshore) are both above 7, not lagging waiting for the central rate to catch up!



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