USD/CNY: Yuan slightly offered ahead of Fed decision

The Chinese currency remained on the back foot across the board amid resurgence of greenback demand, as the corporates bought the buck ahead of the Fed’s interest rates decision.

Moreover, the Yuan also ticked lower per dollar as the Chinese central bank, PBOC, weakened the Yuan fix at 6.9028, 94 basis points lower than Tuesday’s fix of 6.8934.

Meanwhile, the USD/CNY pair traded modestly higher at 6.9041 at mid-day, retreating from session highs of 6.9059.

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