China's Yuan Reference Rate Eases to 6.7828 Against Dollar
Deep News
Aug 31
On August 31st, the People's Bank of China set the central parity rate of the yuan against the US dollar at 6.7828, marking a downward adjustment of 17 basis points.
According to the CME Group's "FedWatch" tool, the probability of the Federal Reserve holding interest rates steady at its September meeting stands at 43.1%, while the likelihood of a 25-basis-point rate hike has risen to 56.9%.
Looking further ahead, the FedWatch data indicates a 29.3% probability that the Fed will maintain the current rate range by October. Meanwhile, the chances of a cumulative 25-basis-point hike and a cumulative 50-basis-point hike by that meeting are estimated at 52.5% and 18.3%, respectively.
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