The People's Bank of China (PBOC) has set the USD/CNY reference rate for Thursday's trading session at 7.0905, marking an increase from the previous day’s fix of 7.0872. This adjustment is also notably higher than the Reuters estimate of 7.1201, indicating a stronger yuan against the dollar than anticipated by market analysts.
This shift in the exchange rate signals the PBOC's ongoing efforts to manage currency stability amid fluctuating economic conditions. Traders will closely monitor how this adjustment influences market sentiment and the broader implications for the USD/CNY currency pair, as well as its impact on other major currencies like the EUR. As trading progresses, the market's response to the PBOC's actions could result in increased volatility in the forex market.
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Data Source: FX Killer Analysis Team Updated: 2025-11-20 01:23
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.