China’s yuan mid-point rate was set at 7.1889, the weakest in over two months. This rate was stronger than expected by Reuters, following tariffs announced by U.S. President Trump, including a 34% tax on Chinese goods.

China’s central bank established the daily yuan mid-point rate, USDCNY, at 7.1889 on Thursday, marking its weakest level since January 17. The rate was noted to be 643 pips stronger than a previous estimate provided by Reuters. This adjustment follows U.S. President Donald Trump’s announcement of a comprehensive set of reciprocal tariffs, which includes a significant 34% levy on Chinese imports.

In conclusion, the recent adjustment of the yuan’s daily fix to its lowest level in over two months is a notable development. This decision by China’s central bank appears to be a response to rising economic tensions, particularly in light of new tariffs imposed by the United States. Observers may continue to monitor the evolving dynamics of these economic interactions.

Original Source: www.tradingview.com

Related posts:

China’s Yuan Stability Amid Economic Developments and Trade Tensions China’s Yuan Weakens Amid Fed Decision and Trade Policy Concerns China Maintains Steady Benchmark Lending Rates Amid Economic Recovery Chinese Yuan Strengthens Amid PBOC Control and Tariff Uncertainty