Yuan Strengthens After PBOC Sets CNY Fixing at Highest Since May 2023 -- Market Talk

Dow Jones
02/04

0201 GMT - The yuan strengthens slightly against the dollar after the PBOC set Wednesday's CNY fixing at 6.9533 versus USD, the highest since May 2023. A stronger or weaker fixing is typically perceived to be a signal from China's central bank. "We expect the CNY to remain a stabilizing anchor for most regional FX, supported by the PBOC continuing to set the daily USDCNY fixing rate below the 7.0000 level," MUFG Bank's Lloyd Chan says in a research report. "Against this backdrop, we retain a constructive outlook on the SGD and MYR, which should continue to benefit from firmer CNY sentiment and overall stable domestic macro fundamentals," the senior currency analyst adds. USD/CNY is down 0.04% at 6.9352, USD/CNH is 0.05% lower at 6.9316, FactSet data show. (ronnie.harui@wsj.com)

 

(END) Dow Jones Newswires

February 03, 2026 21:01 ET (02:01 GMT)

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