PBOC is expected to set the USD/CNY reference rate at 7.0896 – Reuters estimate

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PBOC is expected to set the USD/CNY reference rate at 7.0896  - Reuters estimate

<p>A massive hike for the CNY is the estimate for the mid-rate today. The USD has lost ground since the cooler CPI report from the US last Thursday. </p><p>The Fed has begun pushing back against market euphoria though:</p><ul><li><a href="https://www.forexlive.com/centralbank/feds-waller-dismisses-us-cpi-report-as-just-one-data-point-markets-way-out-in-front-20221113/" rel="follow" target="_self" class="article-link vertical-align-baseline">Fed's Waller dismisses US CPI report as 'just one data point', markets 'way out in front'</a></li><li><a href="https://www.forexlive.com/centralbank/feds-waller-november-fomc-statement-designed-to-signal-potential-step-down-to-50-20221113/" rel="follow" target="_self" class="article-link">Fed's Waller - November FOMC statement designed to signal potential step down to 50</a></li></ul><p>PBOC CNY reference rate is due around 0115 GMT.</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: PBOC is expected to set the USD/CNY reference rate at 7.0896  - Reuters estimate

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