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China's yuan eases, markets look to global policy guidance amid Ukraine crisis
China’s yuan eased againstthe dollar on Thursday, dragged lower by a weaker-than-expected official midpoint fixing, as traders remain on tenterhooks over geopolitical tensions and the broad economic fallout of Russia’s invasion of Ukraine. Prior to market opening, the People’s Bank of China (PBOC) set the midpoint rate at a one-week high of 6.3105 per dollar, firmer than the previous fix 6.3178. But traders and analysts said the midpoint was not as strong as they had projected, a sign that the authorities were keen tocontrol the pace of yuan rises. The official guidance rate was 97 pips softer than Reuters’ ... (full story)