{"id":923,"date":"2018-08-27T06:04:08","date_gmt":"2018-08-27T06:04:08","guid":{"rendered":"https:\/\/forexvarsity.com\/welcome\/?p=923"},"modified":"2018-08-27T06:04:08","modified_gmt":"2018-08-27T06:04:08","slug":"chinese-yuan-gain-as-pboc-steps-in-to-support-currency-dollar-slips","status":"publish","type":"post","link":"https:\/\/forexvarsity.com\/welcome\/chinese-yuan-gain-as-pboc-steps-in-to-support-currency-dollar-slips\/","title":{"rendered":"Chinese Yuan Gain as PBOC Steps in to Support Currency; Dollar Slips"},"content":{"rendered":"<p>The Chinese yuan gained on Monday as the People\u2019s Bank of China (PBOC)<span>\u00a0<\/span><span class=\"aqPopupWrapper mediumTitle1 js-hover-me-wrapper\"><a href=\"https:\/\/www.investing.com\/news\/forex-news\/pboc-joins-forces-with-powell-to-hit-the-brakes-on-dollar-rally-1586390\" id=\"5b83934e82ea1\" class=\"js-hover-me\" hoverme=\"oal\" data-articleid=\"1586390\">stepped in<\/a><\/span><span>\u00a0<\/span>to support the currency by re-introducing a counter-cyclical factor to its daily fixing mechanism.<\/p>\n<p>The<span>\u00a0<\/span><span class=\"aqPopupWrapper js-hover-me-wrapper\"><a href=\"https:\/\/www.investing.com\/currencies\/usd-cny\" id=\"5b83934e825cc\" class=\"aqlink js-hover-me\" hoverme=\"aql\" data-pairid=\"2111\">USD\/CNY<\/a><\/span><span>\u00a0<\/span>pair traded at 6.8099 by 1:15AM ET (05:15 GMT), down 0.1% after China&#8217;s central bank on Monday lifted its official yuan midpoint more than expected to 6.8508 per dollar.<\/p>\n<p>Monday&#8217;s official yuan midpoint was 202 pips, or 0.3%, firmer than the previous fix of 6.8710 on Friday.<\/p>\n<p>The PBOC said on Friday that banks would resume using the \u201ccounter-cyclical\u201d factor when calculating the yuan\u2019s daily reference rate to support the currency amid broad dollar strength and ongoing trade tensions between Washington and Beijing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chinese yuan gained on Monday as the People\u2019s Bank of China (PBOC)\u00a0stepped in\u00a0to support the currency by re-introducing a counter-cyclical factor to its daily fixing mechanism. The\u00a0USD\/CNY\u00a0pair traded at 6.8099 by 1:15AM ET (05:15 GMT), down 0.1% after China&#8217;s central bank on Monday lifted its official yuan midpoint more<a class=\"moretag\" href=\"https:\/\/forexvarsity.com\/welcome\/chinese-yuan-gain-as-pboc-steps-in-to-support-currency-dollar-slips\/\"> Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-923","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=923"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/923\/revisions"}],"predecessor-version":[{"id":924,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/923\/revisions\/924"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}