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Spot USD/CNY Spikes 938 bps to Close at 6.6740
Spot USD/CNY expanded 938 bps to close at 6.6740 today (20th) as the pandemic situation in mainland China continued to de-escalate. As at 5:10 pm, the USD/CNY grew 388 bps in the n...
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Spot USD/CNY Spikes 938 bps to Close at 6.6740
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2022/05/20 17:18
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Spot USD/CNY expanded 938 bps to close at 6.6740 today (20th) as the pandemic situation in mainland China continued to de-escalate. As at 5:10 pm, the USD/CNY grew 388 bps in the night session, while the USD/CNH lifted 504 bps to post at 6.6789.

The People's Bank of China (PBOC) announced today that, in May, China's loan prime rate (LPR) for one-year period was flattish at 3.7%, compared to the market consensus of 3.65%. The LPR for five-year period, on the other hand, was reduced from 4.6% to 4.45%, against the consensus of 4.58%.
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