Yuan Reference Rate Set at 6.7905 Against Dollar, Weakening by 32 Basis Points
Deep News
Aug 18
On August 18, the People's Bank of China set the yuan's central parity rate at 6.7905 per US dollar, marking a downward adjustment of 32 basis points.
According to the CME Group's FedWatch tool, market expectations indicate a 65% probability that the Federal Reserve will hold interest rates steady at its September meeting, while the likelihood of a 25-basis-point rate hike stands at 35%.
Looking further ahead to October, the FedWatch data shows a 51.4% chance of rates remaining unchanged, a 41.3% probability of a cumulative 25-basis-point increase, and a 7.4% possibility of a cumulative 50-basis-point hike.
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