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 a year, as expectations grow that the US Federal Reserve will cut rates again this month.
On Thursday, the People’s Bank of China (PBOC) set the yuan’s midpoint rate – also known as the daily fixing rate – at 7.0968 per US dollar, its strongest since October last year.
Two days earlier, US Federal Reserve Chairman Jerome Powell said that America’s labour market and inflation outlooks were…Read More