The Central Parity Of RMB Against The US Dollar Dropped By 26 Basis Points.

< p > according to China's < a href= "//www.sjfzxm.com/news/index_cj.asp" > foreign exchange trading center < /a >, in July 2nd, the RMB exchange rate in the inter-bank foreign exchange market was 6.1549 against the US dollar, down 26 basis points from 6.1523 on the previous day, ending two consecutive trading days.

Market participants pointed out that, in the context of a stable middle price, the RMB exchange rate against the US dollar will start to oscillate on the 6.20 front line.

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< p > thanks to strong manufacturing data support, the overnight market < a href= "//www.sjfzxm.com/news/index_cj.asp" > US dollar index < /a > finally got rid of the continuous decline pattern, showing signs of low stabilization.

Data released on the same day showed that the US ISM manufacturing index in June dropped from 55.4% in May to 55.3%.

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The P report shows that the expansion rate of US manufacturing enterprises slowed slightly in June, but is still growing at a high speed.

The new orders index climbed from 56.9% to 58.9%, the highest level since the end of 2013.

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< p > data provider Markit reported that the US Markit manufacturing industry index (final version) was 57.3 in June, the highest since 2010 May.

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< p > despite the weak performance of the recent a href= "//www.sjfzxm.com/news/index_cj.asp" > US dollar < /a > and the gradual stabilization of the domestic economy, the RMB exchange rate against the US dollar has also seen a short-term appreciation. However, the middle price has remained relatively stable, which has struck the market for further confidence in the renminbi.

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< p > 1, in the inter-bank spot inquiry market, the RMB exchange rate against the US dollar immediately increased rapidly, and broke through the 6.20 barrier, but soon encountered the sniping of the big purchase of foreign exchange. The exchange rate then returned to the concussion. Although the closing fourth consecutive trading days went up, the value of the day's rise was narrowed significantly compared with the previous trading days.

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< p > market participants expect that under the background of stabilization of the low US dollar, if the RMB intermediate price is not given "matching", the spot exchange rate of RMB against the US dollar will be short or difficult to effectively break through 6.20.

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