In the wake of the Chinese rate cut onshore yuan is falling. Its hit its lowest (highest for USD/CNY) since November 20 2023:
- PBOC Rate CUT ___ (LPR): 1-year 3.45% (prior 3.45%) 5-year 3.95% (prior 4.20%)
- China’s largest ever cut to its benchmark reference rate for mortgages
This article was written by Eamonn Sheridan at www.forexlive.com. Source