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PBOC Fixes Yuan Weaker Than Estimates By Most Since June 17


A 24 pip positive miss against sell-side estimates at the USD/CNH fix today, the biggest since June 17 and could be an indicator that the PBOC has a preference for a weaker yuan after the strength seen in the past few days. The pair jumped over 500 pips earlier this week, and now sits some 100 pips below the week's opening levels. PBOC fixed USD/CNH at 6.4602, sell side calling for a fix of 6.4578.

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