empty
 
 

08.07.202604:39:18UTC+00Offshore Yuan Rebounds on PBoC Support

The offshore yuan firmed to around 6.79 per dollar on Wednesday, rebounding from the previous session as the People's Bank of China signaled a stronger defense of the currency. The central bank set the daily midpoint at 6.8077 per dollar, only 59 pips weaker than Reuters’ estimate. That gap has narrowed sharply from levels above 500 pips seen over the past month, reinforcing expectations of increased official support for the yuan in the face of a stronger US dollar. The greenback remained underpinned by safe-haven flows after Washington launched new military strikes against Iran and revoked a sanctions waiver that had allowed Tehran to export oil to global markets. The yuan has also come under pressure in recent sessions after the World Bank forecast that China’s growth would slow to 4.4% in 2026 and 4.3% in 2027, while Beijing cut its 2026 GDP growth target to 4.5%–5.0%, from around 5% over the past three years.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback