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China Securities Daily cite analysts - yuan downside is limited with recovering economy

Eamonn Sheridan
11/09/2023 | 01:02 GMT

This report today is echoing the same from last week:

  • with gradual recovery of the broad economy, there can be a little more confidence and calm with the yuan exchange rate

The PBoC is set to weaken onshore yuan again today (not as much as this headline implies, but the direction is lower for the CNy):

  • PBOC is expected to set the USD/CNY reference rate at 7.3437 – Reuters estimate

Offshore yuan update:

usdcnh 11 September 2023

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