Yuan falls to the dollar against the background of a pause in the softening of the NBK monetary policy
China Monetary unit today decreased to the American dollar, which the day before received significant support from the publication of the most important reporting in the country. Despite this, Yuan has not lost so many of his quotes. The whole reason is the suspension of the course to mitigate the monetary policy of the Chinese People’s Bank.
What is happening today with the Chinese currency?
Central Bank of the Middle Kingdom did not reduce the rate on medium -term loans in the country, because on the eve of his assembly American Federal Reserve announced an increase in the indicator on its territory. This event did not allow the Chinese financialist to commit a maneuver in monetary policy.
Analysts believe that the NBK wants to protect his national vascular from a price breakthrough of 7 yuan per dollar, but a decrease in the basic rate contradicts these plans. As of 11:10, the dollar is traded at 6.9732 yuan, which is 0.16% more than in the previous closure.
before the start of current bidding, the People’s Bank of China announced the Middle Course of the Yuan at 6.9101 (to the dollar). At the same time, market experts were confident that this course would be 6.9153. Now currency traders talk about a periodic increase in this indicator, believing that this measure of the regulator will help slow down the drop in the exchange rate of the Middle Kingdom.
What situation is observed regarding other monetary units of the world?
on this day the American currency also shows a rise in price to the euro – by 0.06%, up to 1.0022. At past auction, the value was 1.016. As for the yen – the dollar has grown to her by 0.30%, up to 143.57. In the afternoon, its unit could still be bought for 143.15. The American monetary index of DXY grows by 0.09%, up to 109.75 points.
on this day the dollar continues to strengthen its position after the release of inflation in the United States, which turned out to be higher than preliminary expectations. Now the market is almost completely sure that the Fed will increase the base rate by 0.75 percentage points at its next meeting.
Maxim Sokolov, financial analyst LBLV
