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PBOC sets USD/CNY reference rate at 7.1588 vs. 7.1565 previous

People’s Bank of China (PBoC) set the USD/CNY central rate at 7.1588 on Wednesday, versus the previous fix of 7.1565 and market expectations of 7.2198. It's worth noting that the USD/CNY closed near 7.2199 the previous day.

About PBOC fix

China maintains strict control of the yuan’s rate on the mainland.

The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled.

Each morning, the People’s Bank of China (PBOC) sets a so-called daily midpoint fix, based on the yuan’s previous day's closing level and quotations taken from the inter-bank dealer.

Natural Gas Price News: Fears of higher output, risk aversion test XNG/USD bulls at six-week top near $2.85

Natural Gas Price (XNG/USD) pares recent gains around $2.83 as bulls await China inflation data on early Wednesday. In doing so, the XNG/USD prints th
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EUR/GBP retakes 0.8600, struggles to capitalize on its recovery from over one-week low

The EUR/GBP cross stages a modest recovery from over a one-week low touched during the Asian session on Wednesday and retakes the 0.8600 round-figure
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