PBOC Embraces Yuan Weakness as Fixing Crosses 7.2 per Dollar

In a significant move that reflects the evolving dynamics of China's currency policy, the People's Bank of China (PBOC) has allowed the yuan to weaken, marking a noteworthy moment as the fixing rate surpasses the crucial 7.2 level against the US dollar. This decision is seen as a deliberate strategy to provide support to the economy amidst ongoing domestic and international pressures.

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