PBOC Deputy Governor: Will keep Yuan exchange rate basically stable
Source Fxstreet
People’s Bank of China’s (PBOC) Deputy Governor said on Thursday that they “will keep the Yuan exchange rate basically stable.”
Additional comments
Recent improvements in China's economy will provide support Yuan exchange rate.
Has confidence, conditions, ability to keep forex market stable.
Will prevent the formation of one-sided expectations on Yuan.
PBOC has set up credit market department.
Market reaction
At the time of writing, USD/CNY is holding flat at 7.2368, off the five-month high of 7.2405.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold (XAU/USD) trades around $4,050 on Wednesday, down 1.40% on the day at the time of writing, as investors favor the US Dollar (USD) following a fresh deterioration in tensions between the United States (US) and Iran.
As of the Asian session on July 8, WTI ( USOIL) crude oil prices rose to around $72, rebounding significantly from previous trading sessions. From a technical perspective, oil prices had
US President Trump stated at the NATO annual summit on July 8 that he believes the US-Iran memorandum of understanding is "over." This means the temporary ceasefire state between the two
United States (US) President Donald Trump said during European trading hours on Wednesday that the memorandum of understanding (MoU) with Iran, aimed at ending the war in the Middle East, is over.
West Texas Intermediate (WTI) oil price continues to advance after registering nearly 5% gains in the previous day, trading around $72.20 per barrel during the Asian hours on Wednesday.
Related Instrument
