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PBOC expected to set yuan reference rate at 6.7085

Original: PBOC is expected to set the USD/CNY reference rate at 6.7085 – Reuters estimate

China's central bank is expected to fix the USD/CNY daily reference rate at 6.7085, according to a Reuters estimate. The PBOC sets the yuan's midpoint each trading day, and traders watch the fix closely for signals on official policy toward the currency and the wider economy. The expected level is being picked up by forex market observers ahead of the announcement.

Why now: Traders and investors track the daily yuan fixing for signals on Chinese currency policy and market direction.

PBOCReutersUSD/CNYChina

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Evidence

• PBOC is expected to set the USD/CNY reference rate at 6.7085 – Reuters estimate · investingLive

API: https://socialmediatrends-api.osmike.com/v1/trends/177777