China’s yuan steady following rate cuts, eyes on US data
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China surprised markets by lowering interest rates to boost growth; Analysts believe the cuts will not hurt the yuan; The yuan is down 2.4% this year due to domestic woes; The People’s Bank of China set the midpoint rate at 7.1334 a dollar; Market participants are waiting for US economic data and key monetary policy meetings; The futures market predicts two to three rate cuts by the Federal Reserve; USD/CNY is expected to fall to 7.21 by the end of the year; Chinese companies lodge complaint against SBP; Pakistan's textile industry faces regulatory challenges as foreign pharma companies exit

#China #Yuan #InterestRates #UsData #Economy

https://www.brecorder.com/news/40313939/chinas-yuan-steady-following-rate-cuts-eyes-on-us-data 

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