The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Friday at 7.2095 as compared to the previous day's fix of 7.2073 and 7.2581 Reuters estimate.
The EUR/USD pair held steady around the 1.1300 area on Thursday, maintaining a neutral tone after the European session. Price action remains confined within the day’s range, reflecting a cautious market stance as traders assess the broader trend.
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, is extending gains for a second straight session, hovering near 100.00 at the time of writing. The DXY may continue to gain ground amid the Federal Reserve’s (Fed) cautious policy stance.