# Yuan softens after weaker PBOC guidance - Business & Finance - Business Recorder

> The yuan weakened against the dollar on Tuesday after falling from a six-week high, following softer PBOC guidance and a stronger greenback. The PBOC set the midpoint at 7.1002 per dollar, 8 pips weaker than the previous fix. An RBC analyst said the PBOC is unlikely to push USD/CNY much lower through fixings.

- Date: 2024-05-08 · published 2024-05-08T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/5870-yuan-softens-after-weaker-pboc-guidance-business-and-finance-business-recorder
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

This is routine currency commentary with no major new shock, so its direct effect on feed commodity prices is limited.

## Read by commodity

- USDCNY: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40302365

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.