PBOC Sets Yuan Parity at 6.7804 Against USD, Easing by 9 Basis Points
Deep News
Sep 08
On September 8th, the People's Bank of China (PBOC) set the yuan central parity rate against the U.S. dollar at 6.7804, a downward adjustment of 9 basis points from the previous session.
Meanwhile, market data from the CME's "FedWatch" tool indicates a 60.4% probability that the U.S. Federal Reserve will implement a 25-basis-point interest rate hike at its September meeting, with a 39.6% chance of holding rates steady.
Looking further ahead to the October meeting, the tool shows a 29.1% probability of no rate change, a 54.9% chance of a cumulative 25-basis-point increase, and a 16.1% likelihood of a larger cumulative 50-basis-point hike.
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