On Wednesday, the People’s Bank of China (PBOC) set the USD/CNY reference rate for the trading session at 7.1697, a decrease compared to the previous day’s rate of 7.1733. This adjustment informs traders and investors about the central bank’s stance.

The PBOC’s reference rates have always played a vital role in guiding market expectations. Adjustments in these rates can lead to significant shifts in currency trading, impacting both domestic and foreign market participants.