China’s central bank set the daily reference rate to temper the yuan’s appreciation pace as the currency reached its strongest level versus the dollar in over three years. The move signals a preference for slower gains, which may cap near-term upside in USD/CNY and keep pressure on FX-driven returns for investors positioned for continued appreciation.
China’s central bank set the daily reference rate to temper the yuan’s appreciation pace as the currency reached its strongest level versus the dollar in over three years. The move signals a preference for slower gains, which may cap near-term upside in USD/CNY and keep pressure on FX-driven returns for investors positioned for continued appreciation.
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mildly negative
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-0.12
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