PBOC sets USD/CNY reference rate at 7.0709 vs. 7.0794 Reuters estimates

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PBOC sets USD/CNY reference rate at 7.0709 vs. 7.0794 Reuters estimates
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On Tuesday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.0709, as compared to last Monday's fix of 7.0074 and 7.0794 Reuters estimates.

On Tuesday, the People’s Bank of China set the USD/CNY central rate for the trading session ahead at 7.0709, as compared to last Monday's fix of 7.0074 and 7.0794 Reuters estimates.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

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USD/JPY reverses an Asian session dip to the 147.55 area and stalls a modest pullback from its highest level since August 16 touched the previous day. The uncertainty about future BoJ rate hikes keeps the JPY bulls on the defensive ahead of Japan's snap election on October 27. Gold price continues with its struggle to gain any meaningful traction and remains confined in a familiar range held over the past week or so amid mixed fundamental cues.

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