China’s yuan traded at 6.7837 per dollar on Monday, June 8, up 3.1% year to date, even as the US dollar strengthened broadly. The People’s Bank of China set its daily midpoint fixing at 6.8198 per dollar, 248 pips softer than the Reuters consensus estimate, according to BeInCrypto, signaling it wants to curb the pace of yuan appreciation.
The PBOC allows the yuan to trade 2% either side of the fixing, while several Chinese banks have raised dollar deposit rates to encourage holding dollars. Analysts cited stronger FX settlement flows and improved sentiment toward yuan assets, with markets also watching China trade and inflation data and US CPI this week.
PBOC Sets Softer Yuan Fixing to Slow Currency Gains Against Dollar
2026-06-09 07:59:11
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
