On Tuesday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1068 as compared to Monday's fix of 7.1032 and 7.2080 Reuters estimates.
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Lallalit Srijandorn
FXStreet
Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.
Ripple and Stellar trade higher as both altcoins extend their recovery after defending key support levels earlier this week. XRP is up more than 2% so far this week, while XLM has rebounded after finding support around $0.177. Improving derivatives metrics and fading bearish momentum indicators suggest the recovery could extend in the near term.
The South Korean Won reflects broader strength against the US Dollar as the Bank of Korea delivers its first interest rate hike in three-and-a-half years, raising rates by 25 basis points to 2.75%. The USD/KRW pair gives back slight early gains and ticks down to near 1,484.68 in the Asian trade on Thursday.
The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.
