China's yuan reference rate closely monitored as it nears permitted trading range vs USD.
Traders closely monitor China's yuan reference rate on Monday, as last week's currency weakening neared its permitted trading range vs USD. The fixing may indicate stronger support for the yuan or tolerance for a moderate depreciation, as China manages its currency onshore by setting a daily reference rate vs USD, allowing trading within a 2% range. Yuan volatility can quickly affect other markets.
April 07, 2024
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