CNY is China’s onshore yuan. USD/CNY has hit its highest since September 2023: This comes despite People’s Bank of China efforts to support the yuan, continuing today with a fix below 7.2 again: PBOC sets USD/ CNY mid-point today at 7.1887 (vs. estimate at 7.3435) 7.1887*1.02 means it…
Read MoreThe data is here: Australian November CPI 2.3% y/y (vs. expected 2.2%) More: AUD/USD towards 0.6220 after encouraging CPI data Comments from Capital Economics in response to the numbers comes via Reuters report: “The good news is that measures of core inflation suggest that underlying price pressures are…
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Read MoreThe People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called…
Read MoreThe Bank of Japan (BOJ) is expected to continue raising interest rates over the coming years as inflation appears on track to sustainably reach its 2% target, according to former governor Haruhiko Kuroda. Kuroda highlighted that: Japan’s economy is projected to grow by over 1% annually, supported by…
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