Awaiting the PBOC yuan reference rate setting, offshore yuan rose with dovey Powell
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Yesterday the People’s Bank of China surprised the market with a stronger than was expected mid-rate setting for the onshore yuan, after a series of not so strong settings.
While we await today’s mid-rate a recap of how the offshore yuan has moved in response to:
The USD lost ground, CNH a beneficiary amonght other currencies:
Yuan traders will be watching the PBPOC again today to see if the Bank nudges the yuan stronger again.