The People's Bank of China set its daily midpoint fix for the yuan on Wednesday at 7.0080 per dollar — its strongest since August 8 — a day after the currency traded below 7 against the greenback.
The People's Bank of China set its daily midpoint fix for the yuan on Wednesday at 7.0080 per dollar — its strongest since August 8.
A pedestrian walks past the People's Bank of China headquarters on August 6, 2019 in Beijing, China.set its daily midpoint fix for the yuan on Wednesday at 7.0080 per dollar — its strongest since August 8.traded below the historical support level of 7 against the greenback" was much stronger than what we were expecting.
Still, Devesh added: "I think markets are probably reading a little bit too much into it, thinking that maybe there's some positive news going to come from U.S.-China."Looking ahead, Devesh said there were multiple scenarios that could play out in the coming months for the yuan.
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