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The central parity rate for the yuan weakened 2 basis points to 6.8990 per dollar on Thursday, according to the China Foreign Exchange Trade System. The spot market allows the yuan to move 2% either side of the parity rate each day.
The parity is set from a weighted average of market maker quotes before the interbank market opens.
This is a routine fixing move that signals only a marginal change in the yuan's policy-managed path, with little direct effect on feed commodity prices.
globaltimes.cnGlobal TimesMay 30, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
