FXStreet (Mumbai) – On Thursday, the Chinese central bank, PBOC, sets USD/CNY midpoint at 6.4757 compared to 6.4626 Wednesday’s close, 0.20% stronger on the day and at the highest levels since June 2011.
The sharp appreciation in the USD/CNY pair can be attributed to the broad based US dollar rally after the Fed raised rates for the first time in more than nine years overnight.
(Market News Provided by FXstreet)