I'm LongbridgeAI, I can summarize articles.(ET Net, Special Report on the 6th) The RMB To USD Midpoint Rate was reported at 6.7168 today, down 12 pips from the previous trading day.
The RMB Spot Rate (CNY) against the USD opened 10 pips higher this morning at 6.6700, compared to the previous trading day's closing Spot Rate of 6.6710.
The US dollar remained largely unchanged overnight as investors awaited the release of US non-farm payroll data. Song Yu, Chief Economist at UBS Securities, commented that the current cycle of RMB appreciation has not yet ended, and there is still room for further appreciation. It is expected that the People's Bank of China will continue to use tools such as the RMB To USD Midpoint Rate and foreign exchange macroprudential policies to manage the pace of appreciation, even as external pressure for a faster RMB appreciation rises.