People's Bank of China Sets USD/CNY Central Parity at 6.8109, 41 Basis Points Stronger

Deep News09:20

The People's Bank of China set the central parity rate for the yuan against the US dollar at 6.8109 on Monday, representing a strengthening of 41 basis points from the previous fix.

According to the CME FedWatch Tool, market pricing suggests a 98.5% probability that the US Federal Reserve will keep its benchmark interest rate unchanged at its June policy meeting. The probability of a cumulative 25 basis point rate cut by June is priced at 1.5%.

For the July meeting, the probability of the Fed holding rates steady is seen at 91.3%. The market currently assigns a 7.4% chance of a cumulative 25 basis point rate hike by July, and a 1.4% probability of a cumulative 25 basis point rate cut by that time.

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.

Comments

We need your insight to fill this gap
Leave a comment