China Yuan Steadies, Eyes Fourth Weekly Gain Amid Central Bank Focus

The yuan maintained its strength against the dollar, on track for a fourth consecutive weekly gain, despite a selloff in China's share market. Attention is now shifting to upcoming central bank meetings, including the US Federal Reserve, Bank of Japan, and European Central Bank, all expected to keep rates unchanged but maintain a hawkish stance. The People's Bank of China set its midpoint rate at 6.7180 per dollar, its strongest since February 2023. A hawkish outlook from global central banks, particularly the Fed, could strengthen the US dollar, potentially impacting international gold prices and the USD/PKR exchange rate.

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