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The yuan edged higher against the dollar after the central bank announced a 500 billion yuan funding scheme to support the equity market. The PBOC also set its midpoint rate at 7.0742, slightly weaker than a Reuters estimate.
Gains in the yuan from policy support reduce the local cost of dollar-priced imports, though analysts expect the moves to be gradual. The impact on feed commodity prices is small.
brecorder.comReuters10 okt 2024Na 362 eerdere neerwaarts macro-gebeurtenissen bewoog Chinese yuan (CNY per USD) zich mediaan -0,1% over 5 sessies (42% hoger; middelste helft -0,4% tot +0,1%), en -0,2% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
The PBOC set a weaker-than-expected midpoint of 7.0742 and the yuan was held up only modestly by equity-support funding, showing the dollar strength was partly offset.
