Today's midpoint is much lower than market expectations, with the deviation reaching its largest since 2018! The central bank shows its stance: Has the renminbi risen too quickly?
The Chinese central bank today set the daily reference rate for the renminbi significantly weaker than market expectations, with the degree of deviation reaching a record high.
On the 26th,the RMB/USD central parity rate was set at 7.0358, up 34 points, marking the highest since September 30,