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China’s yuan slips amid caution ahead of big central bank meetings

From brecorder.com

China’s yuan eased slightly against the dollar on Tuesday but found some support above levels seen as red lines for authorities, while caution ahead of upcoming global central bank meetings also kept the losses in check. Central banks including, US Federal Reserve, the Bank of England and Bank of Japan, are schedule to hold policy-setting meeting later this week, which could inject fresh volatility into foreign exchange markets if they produce surprises. Prior to the market opening, the People’s Bank of China (PBOC) set the midpoint rate, around which the yuan is allowed to trade in a 2% band, at a one-month high of ... (full story)

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  • Category: Fundamental Analysis