Source: China – South China Morning PostChina’s central bank has set the yuan’s daily reference rate against the US dollar at the strongest level in more than nine months, as bets on rate cuts by the Federal Reserve are growing following a dovish pivot by its chair, Jerome Powell.
On Monday, the People’s Bank of China set the yuan’s midpoint rate – also known as the daily fixing rate – at 7.1161 per US dollar, its strongest showing since early November.
Compared with 7.1321 in the previous release, Monday’s fixing also marked the…Read More