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The PBOC set its yuan midpoint at 7.2008 per dollar after the national holiday, little changed from Friday. The offshore yuan partly reversed a 1% gain made over the long weekend.
A firm official fix limits how far the yuan can strengthen, which can slow the currency-driven rally in Asian currencies. Less yuan appreciation means less support for Chinese import demand from currency gains.
reuters.comHudson LockettMay 6, 2025After 42 past neutral policy events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (50% higher; middle half -0.3% to +0.4%), and -0.2% over 20.
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.
The offshore yuan's 1% gain over the long weekend and the PBOC's roughly unchanged midpoint show the catch-up move on May 6 and the official restraint around it.
