PBOC raises USD/CNY rate to 7.1705, focusing on stability, growth, and reforms while influencing market rates.
China’s export growth slowed in early 2023 due to the Lunar New Year and U.S. trade pressures.
The Pound Sterling pauses after gains, trading at 1.2885 as US Dollar weakens amid tariff concerns.
Canada reviews US order’s impact amid trade uncertainty, assessing scope and potential adjustments before responding to tariffs.
PBOC sets USD/CNY midpoint at 7.1692, stronger than expected. Net liquidity drain reaches 110.5 billion yuan.
Atsushi Mimura, Japan’s top currency diplomat, stresses balance in addressing globalisation downsides without protectionist measures.
Trump collaborates with House Republicans on funding resolution, aiming for tax cuts, spending reductions, and a spending freeze.
The PBOC sets the yuan’s daily midpoint, allowing a 2% trading band and intervening to stabilise fluctuations.
The yen weakens as Japan’s 10-year bond yield hits 1.5%, its highest level since 2009.
Roberto Perli stated balance sheet reduction continues smoothly, with no short-term pause expected despite policy uncertainties.
