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PBOC sets USD/CNY midpoint at 6.7769 after hotter inflation data

China’s August CPI rose to 0.8% year over year, and the PBOC set the USD/CNY mid-point above the prior estimate of 6.7042.

Reported · Written up by our desk · Major Pairs

Forexlive reports that China’s August CPI rebounded on higher energy costs, printing 0.8% year over year, in line with expectations after 0.5% the prior month.

In response, the PBOC set the USD/CNY mid-point at 6.7769, compared with an estimate of 6.7042, as markets weighed the latest inflation read.

Elsewhere in Asia, the report noted that trading sentiment was mixed, with KOSPI topping 7,000 on AI optimism even as risks tied to the Middle East weighed on markets.

The same wrap also pointed to ongoing US-Iran tensions, saying the US Central Command reported destroying five Iranian crude oil tankers, an escalation that traders linked to broader market uncertainty.

Latest closeWTI crude $94.28 ▲3.1%|Kospi 6,995.39 ▲4.6%

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