Trvalý odkaz Pridané používateľom Anonymný (bez overenia) dňa So, 12/14/2024 - 13:05
SHANGHAI, Oct 9 (Reuters) - China's yuan held <br>
<br>
steady against the U.S.<br>
<br>
dollar on Wednesday, as investors awaited more stimulus from <br>
<br>
the world's second-largest economy and the Federal Reserve's September meeting minutes due later in the day <br>
<br>
to gauge its policy path. The dollar held steady, giving some <br>
<br>
relief to the yuan after a sharp rally to a seven-week high last <br>
<br>
week.<br>
<br>
Spot yuan opened at 7.0650 per dollar and was last <br>
<br>
trading 12 pips lower than the previous late session close <br>
<br>
at 7.066. Prior to the market opening, the People's Bank of China (PBOC) set the midpoint rate, <br>
<br>
around which the yuan is allowed to trade in a 2% band, at 7.0568 per dollar, only 3 pips <br>
<br>
weaker than a Reuters' estimate.<br>
<br>
<br>
<br>
China's blue-chip CSI300 index dropped for the first time since Sept.<br>
<br>
13, poised to snapping a 10-day winning streak, after officials on Tuesday failed to offer much new on stimulus plans to revive the economy.<br>
<br>
The yuan is down 0.7% against the dollar so far this month, due to broad dollar strength, <br>
<br>
but the currency has 0.5% firmed for the year-to-date.<br>
<br>
<br>
<br>
China equities' recent rally has raised the bar for an upside surprise <br>
<br>
from expected fiscal stimulus news, said UBS strategists led by Rohit Arora, adding that the offshore yuan's near-term risk reward is unattractive.<br>
<br>
"Historically, fizzling of China equities' spurts acted as a bigger drag on CNH vis-à-vis the tailwinds from equities' surge," the strategists said.<br>
<br>
<br>
<br>
<br>
<br>
Nevertheless, market participants are still awaiting additional stimulus measures that could help further lift China asset sentiment.<br>
<br>
Citi FX traders think the offshore yuan could trade well if local equities remain supported, similar to what happened <br>
<br>
in Nov. 2022 - Jan. 2023, according to the bank's note to clients.<br>
<br>
<br>
<br>
The offshore yuan traded at 7.0682 yuan per dollar, up about <br>
<br>
0.09% in Asian trade. The dollar's six-currency index was <br>
<br>
0.039% higher at 102.53. LEVELS AT 02:44 GMT INSTRUM CURRENT UP/DOWN( % DAY'S DAY'S ENT vs USD -) VS.<br>
<br>
CHANGE HIGH LOW PREVIOUS YR-TO-D CLOSE % ATE Spot 7.066 -0.07 0.51 <br>
<br>
7.063 7.0697 yuan <CNY=CF XS Offshor 7.071 0.09 0.81 7.064 7.0741 e yuan spot <CNH=D3 > <br>
<br>
(Reporting by Shanghai Newsroom; Editing by Kim Coghill)<br>
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SHANGHAI, Oct 9 (Reuters) -