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Home Forex USDCNY keeps grinding towards previous intervention levels around 7.37
Forex

USDCNY keeps grinding towards previous intervention levels around 7.37

June 26, 20241 Mins read21 Views

The USDCNY is approaching the previous max pain level around 7.37 where the PBoC intervened in 2023 so worth keeping that level marked up.

The PBoC continuously adjusted the mid-point weaker in recent sessions with yesterday seeing the weakest setting since Nov 2023.

This article was written by Arno V Venter at www.forexlive.com.

Previous post PBOC sets USD/ CNY reference rate for today at 7.1248 (vs. estimate at 7.2698)

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