On August 27th, the People's Bank of China set the yuan's central parity rate at 6.7840 against the U.S. dollar, marking a decrease of 11 basis points.

According to the CME Group's FedWatch tool, market expectations indicate a 63.5% probability that the Federal Reserve will hold interest rates steady at its September meeting. Meanwhile, the odds of a 25-basis-point rate hike during that session stand at 36.5%.

Looking further ahead to the Fed's October policy meeting, the likelihood of maintaining current rates is pegged at 47.3%, while the probability of a cumulative 25-basis-point increase is 43.4%. Additionally, there is a 9.3% chance that the central bank will implement a cumulative 50-basis-point hike by that time.