PBOC sets USD/CNY reference rate at 7.1265 vs. 7.1268 previous

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PBOC sets USD/CNY reference rate at 7.1265 vs. 7.1268 previous
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The People’s Bank of China (PBOC) set the USD/CNY central rate on Monday at 7.1265, as against the previous day's fix of 7.1268 and 7.2558 Reuters estimate.

The People’s Bank of China set the USD/CNY central rate on Monday at 7.1265, as against the previous day's fix of 7.1268 and 7.2558 Reuters estimate. 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.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.The AUD/USD pair trades on a stronger note near 0.6675 during the early Asian session on Monday. The growing speculation that the US Federal Reserve would cut interest rates in 2024 weighs on the Greenback across the board. USD/JPY stands tall near a multi-decade high amid the big US-Japan rate differential.

The cryptocurrency market is cyclical in nature and several Layer 1 tokens have noted a decline in their prices, as new narratives like Artificial Intelligence and meme coins dominate in 2024. The initial reaction to the first round of voting in the French Parliamentary election that took place on Sunday has been a small sigh of relief. EUR/USD has opened higher, and is up some 20 pips.

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