On Friday, the People's Bank of China (PBOC) set the USD/CNY central reference rate at 7.0789, slightly higher than the previous day's fix of 7.0779. This adjustment comes as the market closely watches the PBOC's policies amid ongoing fluctuations in the exchange rate influenced by global economic conditions.
The new reference rate also exceeded the Reuters estimate of 7.0769, indicating a cautious stance from the PBOC in response to shifting market dynamics. This movement in the currency pair highlights the bank's ongoing commitment to managing the yuan's exchange rate amid external pressures, particularly from fluctuations in the USD and overall economic uncertainty. Traders will be keen to assess how this change impacts upcoming trading sessions.
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Data Source: FX Killer Analysis Team Updated: 2025-11-28 02:55
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.