China sets yuan fix at ¥7.0358 per dollar, well below market estimate to slow appreciation

On Friday, the People’s Bank of China announced that it has set the yuan’s daily fix at ¥7. 0358 per dollar, which is 301 pips weaker than what traders and analysts had guessed in a Bloomberg survey. To make matters worse, that difference is the biggest miss since 2018, and Beijing’s decision came right after the […] source: https://www.cryptopolitan.com/china-sets-yuan-fix-at-%c2%a57-0358-per-dollar/