China's Yuan Weakens, Dragged by PBOC's Decision to Lower Shorting Costs -- Market Talk

Dow Jones02-27

0406 GMT - China's yuan weakens against the dollar in offshore and onshore markets, dragged by the PBOC's decision to lower shorting costs. The central bank on Friday said it would cut the risk reserve requirement ratio for financial institutions conducting foreign-exchange forward trading to zero from 20%. The move makes "it less punitive for market participants to bet against the yuan," Maybank analysts say in a forex research and strategy report. The PBOC also set the USD/CNY fixing at 6.9228 today, much higher than median estimate of 6.8435, the analysts note. "Along with the fix, it is clear that [the] PBOC wants the yuan appreciation pace to slow," they add. USD/CNY rises 0.2% to 6.8548, USD/CNH is 0.1% higher at 6.8492, LSEG data show. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 26, 2026 23:06 ET (04:06 GMT)

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The PBOC also set the USD/CNY fixing at 6.9228 today, much higher than median estimate of 6.8435, the analysts note. \"Along with the fix, it is clear that [the] PBOC wants the yuan appreciation pace to slow,\" they add. USD/CNY rises 0.2% to 6.8548, USD/CNH is 0.1% higher at 6.8492, LSEG data show. 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The central bank on Friday said it would cut the risk reserve requirement ratio for financial institutions conducting foreign-exchange forward trading to zero from 20%. The move makes \"it less punitive for market participants to bet against the yuan,\" Maybank analysts say in a forex research and strategy report. The PBOC also set the USD/CNY fixing at 6.9228 today, much higher than median estimate of 6.8435, the analysts note. \"Along with the fix, it is clear that [the] PBOC wants the yuan appreciation pace to slow,\" they add. USD/CNY rises 0.2% to 6.8548, USD/CNH is 0.1% higher at 6.8492, LSEG data show. 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