Ella 
During the latest round of the People’s Bank of China’s (PBoC) fixing, the yuan received significant support, with its reference rate set approximately 1100 pips below the estimated value.
The PBoC established the USD/CNY mid-point today at 7.0943, a notable deviation from the estimate of 7.2037. As observed in previous instances, the Australian dollar (AUD) and New Zealand dollar (NZD) witnessed increased buying interest around this particular time.
This surge in AUD and NZD activity coincides with the PBoC’s fixing time, indicating a correlation between the movements of these currencies and the actions of China’s central bank. Investors and traders are closely monitoring these developments as they seek insights into potential market trends and opportunities.
