PBOC Yuan reference rate set at 6.3306 vs prior close 6.2298

FXStreet (Bali) - Following yesterday's shocking news that the PBOC had decide to abandon its stable RMB regime as we knew it, by devaluating its domestic currency almost 2% - largest 1-day adjustment on record -, today's PBOC Yuan reference rate was set at 6.3306 vs prior close 6.2298.

Yuan devaluation poses four headwinds for the metals - Deutsche Bank

Grant Sporre, Research Analyst at Deutsche Bank, notes that the devaluation of the RMB poses four headwinds for the metals market.
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Market chaos on further Yuan devaluation

The market has gone into full risk-off mode yet again following another devaluation of the Yuan by the PBOC, setting today's PBOC Yuan reference rate at 6.3306 vs prior close 6.229.
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