PBOC to set Yuan reference rate at 7.0528 - Reuters estimate

Omkar Godbole FXStreet Contributor

The People's Bank of China (PBOC) is expected to set the Yuan reference rate at 7.0528 per US Dollar today, having fixed the midpoint rate at 7.0572 on Friday,

A weaker-than-expected fix could be seen, courtesy of the escalating US-China trade tensions. On Friday, the US President Trump tweeted several tariff measures that Wahington will impose on China, starting from Sept. 1 and Oct. 1.

As of writing, the offshore Yuan exchange rate, as represented by the USD/CNH pair, is seen at 7.1674 per USD.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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