Yuan Fixing Softens to 6.7841 Against the Dollar, Easing 24 Basis Points
Deep News
Yesterday
The People's Bank of China set the yuan's central parity rate at 6.7841 per US dollar on August 24, marking a downward adjustment of 24 basis points from the previous session.
According to the CME FedWatch tool, market expectations show a 59.0% probability that the Federal Reserve will maintain its current interest rate target range at its September meeting, while the odds of a 25-basis-point hike stand at 41.0%.
Looking further ahead, the data indicates a 46.6% likelihood of rates remaining unchanged through October, alongside a 44.8% probability of a cumulative 25-basis-point increase and an 8.6% chance of a cumulative 50-basis-point rise by that time.
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