USD/CNY: Upward pressure may increase on NFP, PBOC easing

FXStreet (Bali) - People’s Bank of China (PBOC) set the yuan reference rate at 6.3578 vs Friday's close of 6.3530 and last fix at 6.3459.

Bearing in mind the strong US NFP last Friday, coupled with expectations for further easing by the PBOC as the economy continues to show signs of weakness, it should result in upward pressure in the USD/CNY exchange rate going forward.