Yuan Reference Rate Set at 6.7852 Against Dollar, Slightly Weaker
Deep News
5 hours ago
On August 25, the People's Bank of China set the yuan's daily midpoint reference rate at 6.7852 per US dollar, marking a downward adjustment of 11 basis points from the previous session.
According to the CME Group's FedWatch tool, market pricing indicates a 58.6% probability that the Federal Reserve will hold interest rates steady at its September meeting. Meanwhile, the odds of a 25-basis-point rate hike stand at 41.4%.
Looking further ahead to October, the tool shows a 43.0% chance that the Fed keeps rates unchanged, a 46.0% probability of a cumulative 25-basis-point increase, and an 11.0% likelihood of a cumulative 50-basis-point hike.
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