PBOC sets USD/CNY reference rate at 6.8375 vs. 6.8435 previous

PBOC sets USD/CNY reference rate at 6.8375 vs. 6.8435 previous

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.8375 compared to the previous day’s fix of 6.8435 and 6.7909 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, […]

Japanese Yen has quietly erased the intervention rally

Japanese Yen has quietly erased the intervention rally

The Yen drifted toward the 159.00 zone through Monday’s session and closed close to 158.80, marking a sixth straight losing day against a US Dollar that just refuses to peak. The price action itself was unremarkable, a 60-pip range on the day, but the trajectory is striking. The intervention rounds that began on April 30 […]

Oil shock and US yields pressure importers – MUFG

Oil shock and US yields pressure importers – MUFG

MUFG’s Michael Wan highlights that Asian Emerging Markets (EM) currencies have weakened as higher US real yields, a stronger Dollar and elevated Oil prices weigh on sentiment. Oil-importing currencies such as Indian Rupee (INR) and Philippine Peso (PHP) are singled out as most vulnerable, alongside Indonesian Rupiah (IDR) given its sensitivity to United States (US) […]