China's central bank set the yuan's daily fixing at 6.7298 per dollar, its strongest since February 2023, while the CSI 300 stock index slid to a 13-month low. Wednesday's September producer price data is expected to show a 4.5% annual rise.
CoinBureau’s Nic Puckrin flags the dollar at a four-year low versus the yuan, tying the move to export inflows and a PBOC more willing to let the currency firm. Source
The People's Bank of China (PBOC) set Tuesday's USD/CNY central parity at 6.7298, 15 pips stronger than Monday's 6.7313. It is the firmest fixing since 2 February 2023. Onshore spot hovered near 6.6972, close to its strongest level since January 2023. Stocks went the other way. The CSI 300, which tracks the largest Shanghai- and Shenzhen-listed names, fell another 0.3% to its lowest close in more than a year, a day after it hit a 13-month closing low.
