Yuan Fixing Strengthens to 6.7811 Against Dollar, Marking a 29-Pip Gain
Deep News
Aug 28
On August 28, the central parity rate of the Chinese yuan against the US dollar was set at 6.7811, reflecting an upward adjustment of 29 pips.
According to the CME Group's FedWatch tool, the probability of the Federal Reserve maintaining interest rates unchanged in September stands at 63.5%. Meanwhile, the odds of a 25-basis-point rate hike during the same period are estimated at 36.5%.
Looking ahead to October, the FedWatch data indicates a 47.3% likelihood that the Fed will keep rates steady, while the probability of a cumulative 25-basis-point increase is 43.4%. Additionally, there is a 9.3% chance of a cumulative 50-basis-point hike by that time.
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