The People's Bank of China set the yuan's central parity rate against the US dollar at 6.7882 on August 12, representing an increase of 18 pips from the previous fix.
According to the CME Group's "FedWatch" tool, the probability of the Federal Reserve keeping interest rates unchanged at its September meeting stands at 52.0%, while the probability of a 25-basis-point rate hike is 48.0%.
Looking ahead to the October meeting, the FedWatch tool indicates a 38.7% chance of the Fed maintaining the current rate, a 49.0% probability of a 25-basis-point hike, and a 12.2% likelihood of a cumulative 50-basis-point increase.
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