empty
 
 

20.07.202602:23:41UTC+00Offshore Yuan Hovers Near 1-Week Low

The offshore yuan traded around 6.77 per dollar on Monday, hovering near a one-week low as investors weighed escalating tensions in the Middle East and the People's Bank of China’s decision to keep key lending rates unchanged. Market sentiment remained fragile after the US carried out new airstrikes against Iran over the weekend, prompting Tehran to declare its ceasefire with Washington no longer in effect.

On the policy front, the People’s Bank of China left its benchmark lending rates at record lows for a 14th straight month in July, holding the one-year loan prime rate (LPR) at 3.0% and the five-year LPR at 3.5%. The decision came despite weaker-than-expected second-quarter data that highlighted the uneven nature of China’s recovery: strong manufacturing output and exports continued to lend support, while subdued consumer spending remained a drag on growth. Investors are now turning their attention to the upcoming Politburo meeting later this month for guidance on potential stimulus measures.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback