© Reuters. Investing.com– Most Asian currencies edged lower on Thursday as investors turned broadly risk-averse ahead of key U.S. inflation data due later in the day, while the Chinese yuan rose sharply on more support from the central bank. The dollar steadied near five-week highs, benefiting from increased demand as markets positioned for a potentially
People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The 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
People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. A significantly stronger or weaker rate than
MON: PBoC MLF, South Korean Trade Balance Revised (Jun), Chinese GDP (Q2), Retail Sales, and Industrial Output(Jun) TUE: RBA Minutes, SARB Press Release, US Retail Sales (Jun), Canadian CPI (Jun), New Zealand CPI (Q2) WED: UK Inflation (Jun), EZ Final CPI (Jun), THU: PBoC LPR, CBRT Announcement, Japanese Trade Balance (Jun), Australian Jobs Report (Jun),