Yuan Fixing Weakens Slightly Against Greenback, US Rate Hike Odds Climb
Deep News
Sep 07
On September 7th, the People's Bank of China set the yuan's central parity rate at 6.7795 against the US dollar, marking a downward adjustment of 8 basis points.
According to the CME Group's "FedWatch" tool, the probability of the Federal Reserve holding interest rates steady at its September meeting stands at 41.7%, while the likelihood of a 25-basis-point rate hike is priced at 58.3%.
Looking further ahead, market data indicates a 30.1% chance that the Fed will maintain the current rate through October. Meanwhile, the probability of a cumulative 25-basis-point increase by that meeting is 53.7%, and the odds of a total 50-basis-point hike are estimated at 16.1%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.